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
Feliz [49]
3 years ago
5

Glenn sells a piece of equipment used in his business for $31,500 during 2019. The equipment was purchased on July 1, 2017, at a

cost of $22,000. Glenn has taken $6,600 of depreciation on the equipment. What are the amount and classification of the gain on the sale by Glenn?
Business
1 answer:
Schach [20]3 years ago
6 0

Answer:

A gain of $16,100

Explanation:

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal.

The carrying amount of an asset is the difference between the cost of the asset and the accumulated depreciation of the asset.

Carrying amount

= $22,000 - $6,600

= $15,400

Gain/(loss) on sale of asset

= $31,500 - $15,400

= $16,100

You might be interested in
What’s a commercial bank most likely going to do with your money when you deposit it?
sasho [114]

Answer:

keep it in-store and safe until you take some out and if it's there for a while ( like after a year or 2) they could take out a dollar each week or 5 dollars a month for the space you're taking up

8 0
3 years ago
The Fed has decided to expand the money supply, leading to lower interest rates. As a partner in a tech start-up, you react to t
Alona [7]

Answer:

A, B and D

Explanation:

Expanding the money supply is an exercise of expansionary monetary policy.

This decision will first allow our tech startup to acquire cheaper loans and expand our operations, this expansion in operations will result in new employment opportunities and hence as a result, unemployment will be reduced assuming this is a general trend in the economy.

This decision also directly reflects an increased investment and hence the GDP on the whole and the investment part of GDP would both increase,

GDP = C + I + G + (X - M), where I = investment.

This change in macro economy will increase aggregate demand due to expansionary effects. Increase in imports is not conclusive as it may or may not happen depending upon the demand state.

Hope this helps.

8 0
3 years ago
When supply increases, the supply curve
MariettaO [177]

When supply increases, the supply curve  shifts to the right.

<h3>What is the supply curve?</h3>

This is the curve that is used to show the amount of goods that the producers would be able to make available for the market at a particular price. The supply curve shifts to the right when there is an increase in supply in the economy.

Hence this answers our question by saying that When supply increases, the supply curve  shifts to the right.

Read more on supply curve here: brainly.com/question/11717727

#SPJ1

5 0
1 year ago
A mutual fund is offered with no up-front sales charge and no contingent deferred sales charge. It charges 50 basis points of 12
trapecia [35]

Answer:

The correct statement is C. This statement is misleading because a no-load fund cannot charge more than 25 basis points of 12b-1 fees

Explanation:

THIS STATEMENT IS MISLEADING BECAUSE A NO-LOAD FUND CANNOT CHARGE MORE THAN 25 BASIS POINTS OF 12B-1 FEES.

A mutual fund is not permitted to advertise itself as a "no-load" fund if it charges 12b-1 fees of more than .25% (25 basis points) annually. 12b-1 fees are charges against net asset value that pay for the cost of soliciting new investment to the fund, and they can be used to compensate salespersons that sell the fund's shares.

8 0
2 years ago
Which of the following is an example of an economic change brought about by globalization
finlep [7]

Answer:

D) increases in the outsourcing of labor

Explanation:

Globalisation is the process by which business develop operations internationally. It involves integration of people, business and governments.

Outsourcing of labor involve hiring of manpower outside an organisation to carry out some job functions.

Because of the variety of talent available globally, and the reduced overhead costs, more businesses are outsourcing job functions.

3 0
2 years ago
Other questions:
  • What is swot analysis
    15·1 answer
  • Which of the following would be considered a career in science?
    7·2 answers
  • According to the University of Michigan studies, leaders who are production oriented are described as emphasizing interpersonal
    11·1 answer
  • Assume Canada has a financial account of negative 40 billion Canadian​ dollars, and its capital account is 10 billion Canadian d
    7·1 answer
  • An increase in the price of gasoline will reduce the amount of gasoline purchased. This is
    6·1 answer
  • One year ago, the Jenkins Family Fun Center deposited $4,500 into an investment account for the purpose of buying new equipment
    14·1 answer
  • Carlos has a small fashion company. He has been in business for a little over a year and the company looks like it is going to d
    8·1 answer
  • Sonia works as a lab research assistant at Frost Labs, which conducts trials for cosmetic products such as sprays, dyes, ointmen
    6·1 answer
  • In order to search the internet you need to use software referred to as a__?
    5·1 answer
  • Which of the following is an internet job search "do"​
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!