Answer:
Debit to loss on sale of equipment of $20,000
Explanation:
Data provided in the question:
Selling cost of the equipment = $100,000
Cost of the equipment = $300,000
Accumulated depreciation of the equipment = $180,000
Now,
The book value of the equipment
= Cost of the equipment - Accumulated depreciation
= $300,000 - $180,000
= $120,000
Therefore,
Proceeds for selling
= Selling cost of the equipment - Book value of the equipment
= $100,000 - $120,000
= - $20,000
Here, the negative sign depicts a loss
Hence,
The company’s journal entry to record the sale of the equipment would include a Debit to loss on sale of equipment of $20,000
Answer:
reduced trade restrictions among Canada, Mexico and the United States.
Explanation:
The North American Free Trade Agreement reduced trade restrictions among Canada, Mexico and the United States.
The goal of The North American Free Trade Agreement was to eliminate barriers to trade and investment between the U.S., Canada and Mexico.
The implementation of NAFTA brought the immediate elimination of tariffs on more than one-half of Mexico's exports to the U.S. and more than one-third of U.S. exports to Mexico
Answer:
Article 2 of the UCC(Uniform Commercial Code).
Explanation:
UCC is said to be an acronym which stands for the Uniform Commercial Code; this is seen also to govern many different forms of contract interactions. Article 2 in most cases are seen to cover common issues ranging from
i). Goods definition of i.e any tangible item that can be moved.
ii). Situations involving missing terms in a contract, such as a missing quantity, price etc.
iii) Contract modifications and lastly
iv). Exchanges of consideration for items of value.
Alot of research has shown in most cases that article 2 is a popularly cited provision in this body of statutes, since it governs contracts for the sale of goods between merchants or between a merchant and a non-merchant.
Answer:
a. unethical
Explanation:
This company's behavior is unethical. In the globalized world, it is natural for transnational firms to direct their production structure to countries where labor is cheaper, as this makes their product more competitive in the international market. However, these firms must not take advantage of regulatory failures in the labor market in these countries to increase their profit. Every firm must be concerned and ensure that the physical integrity and health of employees who work on its plants is preserved, regardless of location. Thus, in order to act ethically, this firm should implement process improvements to minimize the exposure of employees to chemical agents and to inhibit the exploitation of the labor that occurs when employees work in excess and without being paid for overtime.
