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kumpel [21]
3 years ago
14

On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $274,817.00 w

ith an accumulated depreciation of $261,076.15. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $31,603.96. What is the amount of the gain or loss on this transaction? Select the correct answer.
Business
1 answer:
ella [17]3 years ago
4 0

Answer:

$17,863.11

Explanation:

The carrying amount or net book value of an asset is the difference between the historical cost of the asset and the accumulated depreciation. When an asset is disposed, this carrying amount has to be derecognized and the proceed from the sale recognized. The difference between these two amounts is the gain/loss on disposal.

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal.

Carrying amount = $274,817.00 - $261,076.15.

= $13,740.85

Gain/(loss) on disposal

= $31,603.96 - $13,740.85

= $17,863.11

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Answer:

It cost $915,166.69

Explanation:

R=75,000

i=j/m, j=0.0525, m=1 - annually

i=0.0525

n=mt

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An=$ 915,166.69

8 0
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How did the invention of money as a medium of exchange affect the barter system?
sergiy2304 [10]

The barter system is a form of trading in which goods are exchanged directly for other goods without the use of money or as an intermediary, without a medium of exchange. The invention of money supplemented the barter system by providing a nonperishable medium of exchange.

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What two measures are used to describe the problems of growth and economic instability
VLD [36.1K]
The two measures of instability in economic growth are high unemployment rates and inflation
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Pizza International, Inc., reported the following information (in thousands): Operating Activities Net Income $ 236 Depreciation
Aleks04 [339]

Answer:

$22,640

The explanation is shown below:-

Explanation:

The computation of cash flow from operating activities using the direct method is shown below:-

                               Direct method

                            Pizza International, Inc.

                          Statement of cash inflow

Cash flow from operating expenses

Cash received from customers       $143,777

($143,951 - $174)

Cash Paid

To suppliers                                      ($53,773)

($45,700 - $651 + $8,724)

To salaries and wages                     ($56,855)

For office expenses                         ($7,730)

($7,785 + $668 - $723)

For income tax expenses               ($2,779)

($50 + $2,729)

Net cash inflow from operating

activities                                            $22,640

It is mainly due to no depreciation expenses for cash products. Depreciation expenses do not contribute to cash outflows. Because of which company has reported large cash inflow from operations compared to near net loss.

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3 years ago
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Answer: a. ethnocentric

Explanation:

Ethnocentric orientation refers to the use of one's own culture as the yardstick by which to measure and relate to other cultures.

An ethnocentric person would relate to people from other cultures the same way they relate to people from their culture because they believe the way their culture does things is the best way.

Antonio is negotiating deals with the Chinese firm the same way he would negotiate with his fellow Americans . This means that Antonio is adopting an Ethnocentric approach.

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3 years ago
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