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Nikolay [14]
3 years ago
13

A company purchased a machine for $100,000. The accumulated depreciation on the machine is now $100,000. Which of the following

statements is TRUE regarding the disposal of the machine for no cash proceeds?
A) There will be no gain or loss on the disposal.
B) The journal entry to record the disposal will decrease net assets.
C) The cost of the asset, but not its accumulated depreciation, must be removed from the books.
D) A gain or loss on the disposal can occur.
Business
1 answer:
Ostrovityanka [42]3 years ago
3 0

Answer:

A) There will be no gain or loss on the disposal.

Explanation:

Given that

Purchase value of a machine = $100,000

Accumulated depreciation = $100,000

Based on the above information

Since the purchase value is equivalent to the accumulated depreciation i.e. both the amount consist of $100,000

So at the time of sale of the machine no loss or gain should be there

Hence, the correct option is A.  

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The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and
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Answer:

The total budgeted fixed selling and administrative expenses for February is $170,400.  The answer is D.

The calculation is as follows:

a) Advertising -  $50,100

b) Executive Salaries -$60,100

c) Depreciation - $20,100

d) Others - $40,100

Total = $170,400.

Explanation:

To obtain the above answer, we add up all the budgeted fixed selling and administrative expenses, excluding variable elements.

Fixed costs are costs which do not vary according to the level of production or activity.

Since the other elements of cost, e.g sales commision, shipping, and part of advertising are variable, these are excluded in getting the fixed selling and administrative expenses.

4 0
4 years ago
Which of the following statements is correct?
myrzilka [38]

Answer:

A

Explanation:

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4 years ago
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Answer:

$1.40

Explanation:

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7 0
3 years ago
Concerning diversity, current trends and US organizations include
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The answer is: .Standardizing interview process to reduce bias and  non-traditional credentials

To achieve diversity, it is important to know that not all people experience the same thing in life due to The difference in their background.

Because of this , it is important to set a standardized interview process so all candidates could prepare for the same thing and to include non-traditional credentials to cover the people that may experience more hardship than others (such as poor economic background, living in high crime rate area, etc)

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If the quantity demanded for a good rises as the price falls, then the curve representing this relationship will be:
Nostrana [21]
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even though the relationship between the quantity demanded and the nature of the price still correct, we need at least the some sort of illustration of the actual amount of quantity and the price to be able to draw the graph</span>
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