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
Juli2301 [7.4K]
3 years ago
10

Shocker Associates sold office equipment for cash of $162,000. The accumulated depreciation at date of sale amounted to $123,000

, and a gain of $16,000 was recognized on the sale. The original cost of the asset must have been:
Business
1 answer:
siniylev [52]3 years ago
8 0

Answer:

Original Cost of asset = $269,000

Explanation:

Provided information,

We have been provided that selling value of equipment = $162,000

Gain recognized on sale = $16,000

Gain = Selling price - Book Value

$16,000 = $162,000 - Book Value

Book Value = $162,000 - $16,000 = $146,000

Accumulated Depreciation = $123,000

Book Value = Original Cost - Accumulated Depreciation

$146,000 = Original cost - $123,000

$146,000 + $123,000 = Original Cost = $269,000

You might be interested in
Which is a reason why it is important to organize information before preparing a business report?
inna [77]

Answer:

the answeris B, hope this helps

6 0
3 years ago
Read 2 more answers
Identify the term for unsold goods, raw materials, Or work-in-progress that a company has.
ss7ja [257]

Answer:

Inventory

Explanation:

Inventory refers to

  1. The finished products in the warehouse or store that is ready for sale.
  2. Raw materials used in the production of goods
  3. Goods that in the production process, also known as work in progress.

Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.

3 0
3 years ago
Joe Jenkins, the owner of Jenkins Manufacturing, is considering whether to produce a new product. Joe will be selling the produc
Paul [167]

Answer:

Jenkins Manufacturing

Joe should produce using the new equipment.

Explanation:

a) Costs incurred using the old equipment:

Variable costs = $45,000 ($50 x 900)

Fixed costs = $40,000

Total costs = $85,000

Operating Loss = $22,000 ($63,000 - 85,000)

b) Costs incurred using the new equipment:

Variable costs = $22,500 ($25 x 900)

Fixed costs = $60,000

Total costs = $82,500

Operating Loss = $19,500 ($63,000 - 82,500)

Production using the new equipment would reduce the operating loss by $2,500.

7 0
3 years ago
Goodell Corporation just paid its annual dividend of $1.75, today. Dividends for the Goodell Corporation are expected to increas
AlekseyPX

Answer:

current price of Goodell Corporation stock is $48.26

Explanation:

given data

annual dividend = $1.75

expected to increase 1 year = 27.5 percent

expected to increase 2 year = 13.8 percent

expected to increase per year = 5 percent

required rate of return = 10 percent

solution

we get here first dividend that is

D1 = 1.75 × (1.275) = 2.23    ...............1

D2 = 2.23 × (1.138) = 2.54    ...............2

D3 = 2.54 × (1.05) = 2.67      ...............3

and

year 2 price will be

P2 = D3 ÷ (R – g)    ...............4

P2 = 2.67 ÷ (0.10 - 0.05)

P2 = 53.4     ...............5

so current price will be

P = 2.23 ÷ (1.10) + 2.54 ÷ (1.10)2 + 53.40 ÷ (1.10)2

P = $48.26

4 0
2 years ago
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types o
san4es73 [151]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the plantwide predetermine manufacturing overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

total estimated overhead costs for the period= (625,000 + 900,000 + 105,000 + 175,000 + 300,000 + 75,000)

total estimated overhead costs for the period= $2,180,000

Predetermined manufacturing overhead rate= 2,180,000 / 125,000

Predetermined manufacturing overhead rate= $17.44 per direct labor hour

<u>Now, we can allocate overhead to each product line:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

<u>Deluxe:</u>

Allocated MOH= 17.44*2,500

Allocated MOH= $43,600

<u>Basic:</u>

Allocated MOH= 17.44*6,000

Allocated MOH= $104,640

6 0
3 years ago
Other questions:
  • Suppose that a firm produces 10 units of output. Its Average Variable Cost (AVC) = $25, Average Fixed Cost (AFC) = $5, and Margi
    6·1 answer
  • You have $5,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 15 percent and Stock Y with
    6·1 answer
  • The following data (in thousands of dollars) have been taken from the accounting records of Karmint Corporation for the just com
    7·1 answer
  • Which of the following positions would be considered a human resource specialist?
    11·1 answer
  • In preparing a responsibility income statement that shows contribution margin and responsibility margin, two concepts are involv
    12·1 answer
  • Fill in the blanks to complete the passage about the economic implications of technological advances. The U.S. dairy cow industr
    10·1 answer
  • ​Bryant, Inc. provides the following​ data:2017 2016Cash $47,000 $25,000Accounts Receivable, Net 100,000 62,000Merchandise Inven
    13·1 answer
  • Clemente Santiago has formed a business that sells carved gourmet coconuts. He has hired five employees. The most senior is Mary
    13·1 answer
  • Some people contend that any ____ worldview will eventually fail because it wrongly assumes we now have or can gain enough knowl
    5·1 answer
  • In the context of loss aversion, identify a true statement about sunk-cost fallacy. Multiple Choice People are reluctant to give
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!