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
stich3 [128]
3 years ago
9

Sumner sold equipment that it uses in its business for $30,000. Sumner bought the equipment a few years ago for $80,000 and has

claimed $40,000 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss?
Business
1 answer:
Solnce55 [7]3 years ago
6 0

Answer:

long-term capital loss 10,000

Explanation:

80,000 purchase

(40,000) accumulate depreciation

40,000 net book value

30,000 sales price

-10,000 loss

This is a long-term capital loss because the assets was in the company possesions for a longer time than 12 months.

You might be interested in
What do you hope to gain from the course of economic development?​
Slav-nsk [51]

Explanation:

An economics degree gives you a high level of mathematical and statistical skills and the ability to apply economic principles and models to problems in business, finance and the public sector. ... numeracy - handling complex data and techniques of mathematical and statistical analysis. problem-solving. analytical skills

8 0
3 years ago
In which situation would you need to compromise to avoid stress and conflict?
Marianna [84]
Add the selections so I can answer.

6 0
4 years ago
Mr. Dealer bought a fleet of SUVs (sport utility vehicles) from General Motors (GM) on credit, GM agreeing not to assign the res
Temka [501]

Answer:

Yes, Dealer could collect damages from GM because basically GM breached the contract. Any time a contract is breached, the non-breaching party can sue. But the real question here is what amount could the court assign to Dealer as compensation for damages incurred. If you want to rephrase this question, it would be: What damages did Dealer suffer due to GM's breach.

If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.

3 0
3 years ago
A roofing company would like to implement a new method for giving estimates. The owner has narrowed his choice to three differen
galben [10]

The estimators are the blocks in this study

Explanation:

An estimator is a law in statistics for estimating a calculation based on observed figures for a given amount, thereby differentiating the definition, the quantity of value and its consequence. There are estimators for point and time.

To order to measure the time, energy, equipment and function necessary to produce a commodity, constructing a building or provide a service, cost estimators must gather and analyse data. They typically work on a particular company or industry.

It can either be finite-dimensional (parametric and semi-parametric) or infinite-sized (semi-parametric / non-parametric).

3 0
3 years ago
When examining whether a company has underrecorded accounts payable, each of the following ratios is helpful except:
lisabon 2012 [21]
The answer trot his I d
8 0
3 years ago
Other questions:
  • Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00,
    6·2 answers
  • Beene Distributing is considering a project that will return $150,000 annually at the end of each year for the next six years. I
    9·1 answer
  • Judy's Boutique just paid an annual dividend of $2.77 on its common stock. The firm increases its dividend by 3.50 percent annua
    7·1 answer
  • Suppose that Mexico experienced a very severe period of inflation in 1972. As prices in Mexico rose, the demand in the foreign e
    13·1 answer
  • Timothy, LLC, originally budgeted $10,000 of costs to produce 100 toy cars. $5,000 of these costs consisted of direct labor, $1,
    11·1 answer
  • ECONOMICS!! PLEASE HELP ME!!
    7·1 answer
  • What is the IRR of the following set of cash flows? (Do not round intermediate calculations. Enter your answer as a percent roun
    10·1 answer
  • Terps Company reported total assets of $2,400,000 and net income of $320,000 for the current year. The company determined that i
    11·1 answer
  • g 4. The price of a home is $197,000. The bank requires 20% down payment and four points at closing. The cost of the home is fin
    8·1 answer
  • Cecilia has studied economics and knows about the value and investment potential of diamonds. the price of diamonds has recently
    14·3 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!