Disconnect the battery is your answer .-.
Book value on the date of disposal
Cost of the equipment - accumulated depreciation
45000-20000=25000
Gain on disposal of the equipment
Proceeds from sales - book value on the date of disposal
30000-25000=5000
The amount of gain on disposal (5000) is reported under “Other revenues and
gains” section of the income statement which increase the profit which transferred into shareholders equity. Also, the account of the equipment will be zero
So the answer is d
Hope it helps!
Answer:
SCC won't pay any tax
Explanation:
Their loss of $30,000 in year 1 will be unused and made available to counterbalance the total generated earnings in year 2.
The $20,000 earnings in year 2 can be used to counterbalance the whole taxable income; so, SCC will not pay pay tax. SCC will have a ($10,000) loss carryover available for year 3 and beyond
Answer: First Bank Corp journal $
August 1 2018
1.Trico Dr 21m
Creditor Cr. 21m
Narration. Issuance 21m, 9%, 6 months promissory note to Trico
Dec 31 2018
2. Trico Dr. 1,890,000
Interest income Cr. 1,890,00
Narration Interest payable on promissory note to Trico
December 31 2018
3 Bank Dr22,890,000
Trico. Cr. 22,890,000
Narration. payment of promissory notes and interest due on maturity.
