Answer:
$38,000 loss
Explanation:
For calculation of entry to record the sale of the tractor first we need to determine the total depreciation and net book value on Jan 1, 2018 which is shown below:-
Total depreciation = (Tractor cost - Salvage value) × (Hours in 2016 + Hours in 2017) ÷ Hours of operation
= ($180,000 - $20,000) × (2,400 + 2,100) ÷ 10,000
= $72,000
Net book value on January 1, 2018 = Tractor cost - Total depreciation
= $180,000 - $72,000
= $108,000
Loss on sale = Sold tractor amount - Net book value on January 1, 2018
= $70,000 - $108,000
= $38,000
Answer:
$94,000
Explanation:
A local hardware store has explicit cost of $2 million per year
The implicit costs are $44,000 per year
The store earned an economic profit of $50,000 last year
Therefore, the store's accounting profit can be calculated as follows
Accounting profit = Implicit costs + economic profit
= $44,000 + $50,000
= $94,000
Hence the store's accounting profit is $94,000
Answer:
C. the money supply to fall.
Explanation:
According to my research on economics, I can say that based on the information provided within the question an increase in currency holdings will cause the money supply to fall. This is because if people begin to hold this causes the cash flow to decrease and money supply decreases because of the low cash flow.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Answer:
d. All of these answer choices are correct.
Explanation:
Is important to match the expenses with the revenues they are related. If for tax purposes we can deduct a full equipment value in one year. This means we are goung to pay higher income taxes in the future as we don't have the depreciation expense available for taxes porpuses.
The use of deferred incoem tax will be useful to knwo how much are the actual cash obligation and the expected value of the future cash obligations
Answer:
The correct answer would be D, Sheila's parents will qualify for a Plus loan because of their low income.
Explanation:
PLUS loan stands for Parents Loan for Undergraduate Students. It is the loan given to the parents of the students who are graduating with the college. It can be a post secondary loan. This loan is given to the students who cannot afford to meet the expenses of their studies as well as of other activities like books, notes, handouts etc. This loan is given to the parents of the students who have low incomes and can't afford to finance their child's education.
