Answer:
Gain on disposal = $7600
Explanation:
As the machine is sold on 1 April 2024, we first need to update the depreciation expense and charge the depreciation to the date. The depreciation has been charged till 1 December 2023. So, we need to charge the depreciation for three more months.
The formula for depreciation expense under straight line method is,
Depreciation expense per year = (Cost - Salvage value) / Estimated useful life
Depreciation expense per year = (24000 - 0) / 5
Depreciation expense per year = $4800 per year
Depreciation expense for three months = 4800 * 3/12 = $1200
Accumulated depreciation 1 April 2024 = 14400 + 1200 = $15600
To calculate the gain or loss on disposal, we first need to determine the net book value of asset and deduct it from the cash received on disposal.
NBV = Cost - Accumulated depreciation
NBV = 24000 - 15600
NBV = $8400
Gain on disposal = 16000 - 8400
Gain on disposal = $7600
Answer: Behaviorally anchored rating scale
Explanation:
The Behaviorally anchored rating scale is one of the type of appraisal method that is used to combining all the performance, productivity and skills of an employee at the time of appraisal process.
The main objective of the behaviorally anchored rating scale is to bring the main qualified criteria of the appraisal and then based on the employee performance and the eligibility the appraisal are given to an employees in an organization.
According to the question, the Bernice is basically using the behaviorally anchored rating scale method for the purpose of utilization the narrative information for outlining the performance and behavior.
Therefore, Behaviorally anchored rating scale is the correct answer.
Answer:
Loss on Sale of Non-Current Asset is -$5,672.
Explanation:
The key points to remember here are:
- We compare Carrying Value (Cost - Accumulated Depreciation) with Selling Price to calculate gain/loss.
- Adelphi Company has used the machine for 4 years. So, deduct the depreciation of 4 years from the Cost of Machine.
- Double-Declining Rate is calculated as (1/10)*(2) = 20%. Multiply this rate with the Carrying value of each year to get the depreciation figure for next year.
I've attached a screenshot of my workings, I hope it will help you better understand the scenario. Thanks!
Answer:
d. 42%
Explanation:
The percentage increase in cost of goods sold is calculated as:
⇒ <u>Current Year</u> - 1
Base Year
,⇒ <u>1,700,000</u> - 1
1,200,000
⇒ 41.66% or 42%.