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xeze [42]
4 years ago
5

Marquez purchased some equipment for $58,750 on August 15, 2018. He decided he did not need the equipment so he sold it on June

13, 2019 for $56,500. The equipment was subject to depreciation of $6,964 for 2018 and 2019. What gain or loss will Marquez recognize on the sale of the equipment? g
Business
2 answers:
Alina [70]4 years ago
7 0

Answer:

Marquez will recognize a gain of $4714

Explanation:

The gain or loss on disposal of a fixed asset is calculated by deducting the carrying value of an asset from the sales proceeds. If the carrying value is higher than the cash received from the sale, there is a loss on disposal and vice versa.

The carrying value of an asset is,

Carrying value = Cost - Accumulated depreciation

The carrying value for Marquez's equipment is,

Carrying value  = 58750 - 6964  =  $51786

The gain/loss on sale is = 56500 - 51786  =  $4714 Gain

Stels [109]4 years ago
4 0

Answer:

A gain of $4,714

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

= $58,750 -  $6,964

= $51,786

Gain/(loss) on disposal = $56,500 - $51,786

= $ 4,714

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Business optimism about future sales tends to <u>increase </u>investment expenditures, shifting the ad curve to the <u>left</u>.

The National Federation of the unbiased enterprise (NFIB) Small commercial enterprise Optimism Index is a composite of ten seasonally adjusted components. It offers an illustration of the fitness of small businesses within the U.S., which account for more or less 50% of the country's private team of workers.

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5 0
2 years ago
Your grandfather put some money in an account for you on the day you were born. You are now years old and are allowed to withdra
sergij07 [2.7K]

Answer:

Missing word <em>"You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $3996 in it and pays an 8% interest rate."</em>

a.  At 18 years, future value of current amount (compounded for another 7 years at 8%)

= $3,996 * (1.08)^7

= $3,996 * 1.7138

= $6,848.34

b. At age 65, future value of this amount (compounded for another 40 years at 8%)

= $6,848.44 * (1.08)^40

= $6,848.44 * 21.7245

= $148,779.93

c. Future Value = Present Value * (1 + Interest Rate)^n

So, let initial the money deposited be represented by Y

=> $3,996 = Y * (1.08)^18

=> $3,996 = Y * 3.996

Y = $3,996 / 3.996

Y = $1,000

8 0
3 years ago
Baylor Bank believes the New Zealand dollar will appreciate over the next 15 days from $.90 to $.93. The following annual intere
maw [93]

Answer:

19 milion 86+15=91 19000091

5 0
3 years ago
MCQ: An advantage of 'forced distribution method' is
bogdanovich [222]

Answer:

A. avoids central tendency and biases

Explanation:

5 0
3 years ago
A large hospital has an annual demand for 70.000 booklets on healthy eating. It cost ​$.75 to store one booklet for a​ year, and
Goryan [66]

Answer:

It will order 3,865 booklets

Explanation:

We need to use the formula for Economic Optimal Quantity

Q_{opt} = \sqrt{\frac{2DS}{H}}

Where:

D = annual demand

S= supply cost = ordering cost

H= Holding Cost

Q_{opt} = \sqrt{\frac{2*70,000*80}{.75}}

Q_{opt} =3,864.37

It will order 3,865 booklets

<u>How to Remember:</u>

Demand per year and order cost goes in the dividend.

Holding cost goes in the divisor.

6 0
3 years ago
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