Answer: $9025 §1231 loss
Explanation:
From the question, we are informed that Sumner sold equipment that it uses in its business for $30,800 and that the equipment was bought a few years ago for $79,600.00 and has claimed $39,775 of depreciation expense.
Assuming this is Sumner's only disposition for the year, the amount and type or character of Sumner's gain or loss goes thus:
The book value of the equipment will be:
= $79600 - $39775
= $39825
Since the equipment is sold for $30,800, the loss will be:
= $39825 - $30800
= $9025
It should be noted that there will be no depreciation recapture because the asset is sold for a loss.
Answer:
The correct answer is B.
Explanation:
Savings and credit cooperatives or, simply, credit cooperatives are cooperative societies whose corporate purpose is to serve the financial needs of their members and third parties through the exercise of the activities of credit institutions.
Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.
These cooperatives are usually local and seem to be more suited to rural areas. Above all they have access to external funds and they are properly managed. And although there is a World Council of Credit Unions (WOCCU) there are few local or rural cooperatives associated with it.
There are two main types of opportunity cost and they are:
- explicit opportunity cost
- implicit opportunity cost.
<h3>What is Opportunity Cost?</h3>
This refers to the foregone alternatives that are made when making a purchasing decision.
Hence, we can see that your question is incomplete, so I gave you a general overview to help you get a better understanding of the concept.
Read more about opportunity cost here:
brainly.com/question/8846809
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Answer:1)A)
Managerial accounting does not use the financial information from the financial accounting system.
2)E) Rejects the notion of "good enough
3)c) Theory of constraints.
I believe the answer to your last question would be : Beginning work in process.
Explanation:1) Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals. Therefore , it is safe to say managerial accounting does not use the financial information from the financial accounting system.
Answer:
Dr Earnings contingency liability $800,000
Cr Goodwill $800,000
Explanation:
Based on the information given the appropiate journal entry to record the new information includes a credit of $800,000 to:Dr Earnings contingency liability $800,000 and Cr Goodwill $800,000 reason been that the acquisition cost is lesser.
Dr Earnings contingency liability $800,000
Cr Goodwill $800,000