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Nastasia [14]
3 years ago
14

Fast Delivery is the world’s largest express transportation company. In addition to the world’s largest fleet of all-cargo aircr

aft, the company has more than 654 aircraft and 52,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following:
Delivery truck cost $ 42,000
Accumulated depreciation 26,800

Required:

1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a. $15,200 cash
b. $16,500 cash
c. $14,000 cash
Business
1 answer:
lara [203]3 years ago
6 0

Answer and Explanation:

The journal entries are shown below:              

a. Cash   $15,200  

   Accumulate depreciation $26,800  

               To Delivery truck   $42,000

(Being the disposal of the truck is recorded)

b. Cash   $16,500  

Accumulate depreciation $26,800  

              To Delivery truck   $42,000  

              To Gain on sale   $1,300

(Being the disposal of the truck is recorded)

c. Cash   $14,000  

Accumulate depreciation $26,800  

loss on sale  $1,200  

       To Delivery truck   42,000

(Being the disposal of the truck is recorded)

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inysia [295]

Answer:

No.

Explanation:

You said if you charge, so it will only charge your phone. You aren't able to upload photos directly to an Xbox.

Although, if you are pc, you can upload a custom gamerpic easily.

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3 0
3 years ago
Leker exchanged real property that was used exclusively for business and had an adjusted tax basis of $20,000 for new real prope
goldfiish [28.3K]

Answer:

$17,000

Explanation:

Leker's Old Property Adjusted Tax Basis = $20,000

To calculate the new basis, subtract the $3000 recieved in cash from the new property.

New Tax Basis; $20,000-$3,000= $17,000

The transaction of Leker to exchange a real property for another led to a loss: Meaning a Property of $20,000 was exchanged for a property of $10,000+ $3,000 (cash)= $13,000

The Loss on the transaction= $20,000- $13,000= $7,000

Due to the loss no gain is recognized and the $3000 will reduce the basis for his new asset.

6 0
3 years ago
Suppose a person quits a job earning ​$40,000 per year and starts a business with ​$90,000 withdrawn from a​ money-market accoun
weeeeeb [17]

Answer:

The correct answers are $40,000 and $13,500

Explanation:

The implicit cost of the business is ​$40,000 nothing for the​ entrepreneur's time plus $​13,500 nothing for the​ entrepreneur's funds ​(enter your response as an ​integer)

The implicit cost indicates the cost of an asset rather than selling it or renting it out. In other words, the company has to give up by deciding not to exploit an asset. For this case $40,000

For the other line

15% = 0.15

$90,000 x 15% = $13,500

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3 years ago
Videoconferencing, instant messaging, electric meetings, and even conference calls are considered __________ technology.
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Videoconferencing, instant messaging, electric meetings, and even conference calls are considered. synchronous technology.

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Learn more about  synchronous technology here

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4 0
1 year ago
The current price of a stock is $50, the annual risk-free rate is 6%, and a 1-year call option with a strike price of $55 sells
Vlad [161]

Answer:

The value of the put option is;

e. $9.00

Explanation:

To determine the value of the put option can be expressed as;

C(t)-P(t)=S(t)-K.e^(-rt)

where;

C(t)=value of the call at time t

P(t)=value of the put at time t

S(t)=current price of the stock

K=strike price

r=annual risk free rate

t=duration of call option

In our case;

C(t)=$7.2

P(t)=unknown

S(t)=$50

K=$55

r=6%=6/100=0.06

t=1 year

replacing;

7.2-P=50-55×e^(-0.06×1)

7.2-P=50-(55×0.942)

7.2-P=50-51.797

P=51.797+7.2-50

P=$8.997 rounded off to 2 decimal places=$9.00

6 0
3 years ago
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