Answer:
(C) $200.00 gain
Explanation:
The gain or loss on sale of fixed asset is calculated as follows:
Gain\Loss = Sale Price - (Cost of asset - Accumulated Depreciation)
If the value is positive it is gain and if the value is negative it is loss.
Here, we are provided that cost of asset = $6,000
Accumulated Depreciation = $5,000
And selling Price = $1,200
Thus, Gain/Loss = $1,200 - ($6,000 - $5,000)
= $1,200 - $1,000 = $200
As the value is positive that is selling price is more than carrying value of the asset there is a gain of $200
Thus, the correct option is
(C) $200.00 gain
Answer:
There is less capacity for alcohol to extend out because it does not penetrate body fat. Intoxication is caused when body fat reacts with alcohol. The rate at which alcohol passes through the bloodstream is accelerated by body fat.
Answer:
A. selling price per composite unit,
Answer:
Explanation:
According to my research on different financial terminology, I can say that based on the information provided within the question the appropriate journal entry would include a debit to a liability and a credit to a revenue account. This must be included otherwise the journal entry will state the sale of the product or service as being made twice, which will cause errors in the financial statements.
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Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Insurance agent to provide her with information. This agent acts as a(n) intermediary for State Farm.
