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:
In the classroom and in the grocery store and house.
Explanation:
Hope this helps!
The trade union acts as AN INTEREST GROUP. An interest group refers to a group of people that seeks to influence public policy on the basis of a specific common concern or interest. An interest group can fall under one of two categories which are economic and non-economic interest groups.
Marketing is not one of the 10 strategic decisions.
But the 10 strategic decisions are-
design of goods and services
managing quality
process strategy
location strategies
layout strategies
human resources
supply-chain management
inventory management
scheduling
maintenance
Answer:
$738.39
Explanation:
<u>Interest is compounded for first 6 months</u>
Amount at the end of 6 months = $6,300 * (1+0.05/12)^6
Amount at the end of 6 months = $6,300 * 1.025262
Amount at the end of 6 months = $6,459.15
<u>Therefore, 17.3%</u>
Amount at the end of 12 months = $6,459.15*(1+0.173/12)^6
Amount at the end of 12 months = $6,459.15*1.0896782
Amount at the end of 12 months = $7,038.39
Interest owed = Amount owed - Principal
Interest owed = $7,038.39 - $6,300
Interest owed = $738.39
