1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLEGan [10]
3 years ago
6

Sears Corporation, which has a calendar year accounting period, purchased a new machine for $40,000 on April 1, 2007. At that ti

me Sears expected to use the machine for ten years and then sell it for $10,000. The machine was sold for $24,500 on Sept. 30, 2012. Assuming straight-line depreciation, the gain to be recognized at the time of sale would be:
Business
1 answer:
Irina-Kira [14]3 years ago
5 0

Answer:

$1,000

Explanation:

The computation of gain on sales is given below:-

Depreciation per year = $40,000 - $10,000 ÷ 10

= $3,000

Life of equipment = 5.5 years

Accumulated Depreciation on equipment = 5.5 × $3,000

= $16,500

Book value of equipment = $40,000 - $16,500

= $23,500

Gain = Proceed from sale - Book value at the time of sale

= $24,500 - $23,500

= $1,000

You might be interested in
"If a real estate professional says to a potential seller that the neighborhood is ""changing"" and ""isn't what it used to be,"
Marat540 [252]

Answer: True

Explanation: Blockbusting refers to the techniques used by the real agents in America. In general the agents and the builders use this for white house owners. The agents while using this, tries the owners that the racial communities are moving to the neighborhood and it would not be safe for them.

In simple words, they use the perception of racism so that they can get the property at relatively cheaper prices.

Thus, from the above we can conclude that the given statement is true.

5 0
3 years ago
Suppose you are planning a summer vacation and book a hotel room online for $149 a night. However, when you get to the reservati
Anettt [7]

Answer:

iii

Explanation:

Most of the time hotels will charge more when more rooms are booked, so when you book your hotel room, and many rooms are booked, most people do get charged more.

3 0
2 years ago
Seth Silver had the following items of income during the taxable year: Interest income from a checking account $1,000 Interest i
34kurt

Answer:

c. $3,800

Explanation:

Calculation for the amount of taxable income

Using this formula

Taxable income =Interest income from a checking account+Interest income from corporate bonds +Interest income from federal bonds

Let plug in the formula

Taxable income =$1,000+$2,050+$750

Taxable income=$3,800

Therefore on his current year tax return the amount of his taxable income will be $3,800

6 0
3 years ago
Why is one dollar now worth more than one dollar in the future?
Galina-37 [17]
Because then there will be a limited amount of supplies and resources on Earth, so the value will be rare and expensive.
4 0
3 years ago
At the annual holiday party, ABC Airlines gives awards to employees to recognize examples of "going above and beyond" to serve c
IgorLugansk [536]

Answer: rip kobe

Explanrioation:

6 0
3 years ago
Other questions:
  • On 3/1/14 Fox Corp bought back 1,000 shares of their common stock for $15 per share. There were no shares in the treasury prior
    8·1 answer
  • For traditional retailers selling physical goods, _____ is the biggest constraint limiting a firm's ability to offer customers w
    14·1 answer
  • Impact sourcing, smart sourcing, was developed to provide opportunities for workers in less developed countries. Into three para
    14·1 answer
  • Does inflation benefit the lender or borrower?
    14·1 answer
  • Based on the following data for the current year, what is the inventory turnover? Sales on account during year $700,000 Cost of
    5·1 answer
  • Fijisawa Inc. is considering a major expansion of its product line and has estimated the following free cash flows associated wi
    15·1 answer
  • 31. People might withdraw money from interest-bearing accounts,
    10·1 answer
  • Suppose that there is a French shipbuilder that imports American made aluminum for parts in its ships. The French shipbuilder ne
    5·1 answer
  • Adjustable or variable
    8·1 answer
  • Value stream mapping is used to identify all of the value-adding as well as non-value-adding processes that materials are subjec
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!