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
Georgia [21]
3 years ago
7

Navajo Corporation traded a used truck (cost $25,000, accumulated depreciation $22,500) for a small computer worth $4,125. Navaj

o also paid $625 in the transaction.
Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.
Business
1 answer:
bulgar [2K]3 years ago
6 0

Answer:

Calculation of Gain or Loss:

Book Value of Truck:

= 25,000 - 22,500

= $2,500

Gain on Exchange:

= 4,125 - 2,500 - 625

= $1,000

Therefore, the journal entry is as follows:

Accumulated Depreciation A/c Dr. $22,500

computer A/c                              Dr. $3,125

                   To Truck                                            $25,000

                   To Cash                                              $625

(To record the Truck)

You might be interested in
During the process of confirming receivables as of December 31, Year 1, a positive confirmation was returned indicating the "Bal
romanna [79]

Answer:

D. Verify that the amount was received.

8 0
3 years ago
Which of the following transactions will increase an asset and increase a​ liability? A. Purchasing office equipment for cash B.
Mariana [72]

Answer:C. Buying equipment on account.

Explanation:

4 0
3 years ago
A man walks around a circular park 4 times in 12 minutes. The radius of the park is 49m. Find the speed of the man in km/h.​
lilavasa [31]
Suge the reason its suge is because this dababys hit song which landed up on baby on baby album. Remember blame it on baby BOP Suge ROCKSTAR.
7 0
2 years ago
When a restaurant prices pizza at $10 per slice they sell 100 slices in a night. If they sell pizza for $5 per slice, they sell
Helga [31]

slope of this demand curve for pizza = <u>-1/40</u>

<h3>Briefly explained</h3>

Slope = changes in y/ changes in x

The shop sells 200 more pizzas if the price drops by $5 ($10 to $5). (100 to 300 pizzas) A good's quantity is always on the x-axis and its price is always on the y-axis. According to our justification, the cost is REDUCED by $5 (a reduction of -$5) and the quantity of pizzas sold rises by 200. The slope is therefore <u>-5/200 or -1/40.</u>

<h3>What is demand curve?</h3>

The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the quantity required over a specific time period.

The price will often be shown on the left vertical axis in a representation, and the amount needed will typically be shown on the horizontal axis.

Learn more about demand curve

brainly.com/question/1139186

#SPJ4

5 0
1 year ago
Everything else held constant, an increase in uncertainty on business will_____ the required rate of return on its stock and ___
wlad13 [49]

Answer:

the answer is C

Explanation:

6 0
2 years ago
Other questions:
  • Taylor Bank lends Guarantee Company $117,933 on January 1. Guarantee Company signs a $117,933, 9%, nine-month note. The entry ma
    14·1 answer
  • (a) On March 2, Shamrock Company sold $897,900 of merchandise to Pharoah Company on account, terms 2/10, n/30. The cost of the m
    7·1 answer
  • ABC Company is unloading coal from a barge on the Mississippi River. The barge contains 1,760 tons of coal. The coal is shoveled
    13·1 answer
  • Larry has booked a hotel room for a conference at a rate of $100 per day for five days. when he arrives to check in, larry is to
    15·1 answer
  • Workforce is defined as . Answer Choices A. employees, volunteers, trainees and other persons whose conduct, in the performance
    10·1 answer
  • The current ratio is calculated as total current assets divided by total current liabilities.
    13·1 answer
  • The following information is from the records of Mountainview Camera​ Shop: Accounts​ receivable, December​ 31, 2018 ​$80,000 (d
    12·1 answer
  • Prior to the 1990’s, De Beers diamonds maintained a near monopoly on diamond mining and diamond retail, __________ was high beca
    14·1 answer
  • 3. Which part of a letter identifies the address of the person writing the letter
    9·1 answer
  • Hello everyone today is the 28 and I hope you are getting some with your school and approving I wanted to reach out to you that
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!