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leva [86]
3 years ago
6

On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $208,831.0

0 with an accumulated depreciation of $187,947.90. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal. Select the correct answer. Accumulated Depreciation Dr. $208,831.00 Equipment Cr. $208,831.00 Gain on Disposal of Asset Cr. $20,883.10 Loss on Disposal of Asset Dr. $187,947.90
Business
1 answer:
borishaifa [10]3 years ago
5 0

Answer: Equipment Cr. $208,831.00

Explanation:

The Asset was purchased at a cost of $208,831.00 and this was reflected in the Equipment account.

When disposing of the Equipment therefore, the Equipment account has to be credited by a total amount corresponding to the same amount which is $208,831.00 to ensure that the asset will be removed from the Equipment account as it is no longer in the company.

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What is the purpose of a thesis?
Marrrta [24]

Answer:

C. It states what your paper will prove

Explanation:

Sorry if it wrong

8 0
3 years ago
NASA is conducting an experiment to find out the fraction of people who black out at G forces greater than 6. Step 1 of 2: Suppo
Artyom0805 [142]

The proportion of people who pass out at more than 6 Gs is 0.468.

<h3>How to calculate the proportion of people?</h3>

The percentage of participants in this sample who pass out at G forces greater than 6 is calculated by dividing the number of participants who passed out by the sample size.

No. of people whose sample is drawn = 585

No. of people who passed out at G forces greater than 6 = 274

The proportion of people who pass out at more than 6 Gs = 274/585

                                                                                                  = 0.468

Learn more about how to calculate proportion of people here:

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3 0
2 years ago
Match the following statements to the appropriate terms.
ololo11 [35]

Answer:

Matching Statements to Appropriate Terms:

Price-earnings ratio = Profitability Ratio

Return on Assets = Profitability Ratio

Accounts Receivable Turnover = Liquidity Ratio

Earnings per share = Profitability Ratio

Payout ratio = Profitability Ratio

Working capital = Liquidity Ratio

Current ratio = Liquidity Ratio

Debt to Assets = Solvency Ratio

Free Cash Flow = Solvency Ratio

Explanation:

Profitability Ratios are one of the classes of financial metrics that measure a business's ability to generate earnings relative to its revenue, operating costs, assets, or shareholders' equity during a period of time.

Liquidity Ratios measure the ability of the company to pay its maturing short-term debt obligations from its current assets.  They include the working capital, the current ratio, and the acid-test ratio.

Solvency Ratios measure the ability of the company to pay its maturing long-term debt obligations from its assets.

8 0
3 years ago
When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases its production to 70,000 unit
Komok [63]

Answer:

The marginal cost of an additional unit of output is $145

Explanation:

The computation of marginal cost of an additional unit of output is shown below:

= Change in total cost ÷ change in production level

where,

Change in total cost = Increased cost -  previous cost

                                  = $9.4 million - $6.5 million

                                  = $2.9 million

Thus, change in total cost is $2.9 million

And, change in production level = New production level - existing production level

= 70,000 - 50,000

=20,000

Thus, change in production level  is 20,000

Now,

Apply the above values in the formula which is equals to

=  $2.9 million ÷ 20,000

= $145

Hence, the marginal cost of an additional unit of output is $145

8 0
3 years ago
Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per
stich3 [128]

Answer: is realizing an economic profit of $40

Explanation:

The total cost involved in the production will be:

Fixed cost = $100

Variable cost = $3 × 20 = $60

Total cost = $160

The selling price will be:

= $10 × 20

= $200

The economic profit will then be;

= Selling price - Cost price

= $200 - $160

= $40

8 0
3 years ago
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