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Ulleksa [173]
3 years ago
15

Micron Precision purchased equipment on January ​1, 2018​, for $ 40,606. Suppose Micron Precision sold the equipment for $ 30,00

0 on December 31, 2019. Accumulated Depreciation as of December ​31, 2019​, was $ 12,494. Journalize the sale of the​ equipment, assuming​ straight-line depreciation was used.
Business
1 answer:
Step2247 [10]3 years ago
3 0

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $30,000

Accumulated Depreciation - Equipment A/c $12,494

        To Equipment A/c $40,606

        To Gain on Disposal of Equipment $1,888

(Being sale of machinery is recorded and the remaining balance is credited to the Gain on Disposal of Machinery A/c)

The computation is shown below:

= $30,000 + $12,494 - $40,606

= $1,888

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A hospital revenue bond issue is being underwritten on a negotiated basis. The offering consists of $20,000,000 par value of ter
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3 years ago
Why does the quantity of public college education determined in a free market (without government intervention) represent a mark
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<u>Because the </u><u>equilibrium quality </u><u>chosen by the market would be lower than the level that most people would consider desirable, the quantity of public college education determined in a free market (without government intervention) is a</u><u> market failure.</u>

How does government intervention lead to a collapse of the market?

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  • Government intervention, such as new laws, taxes, tariffs, subsidies, and trade restrictions, can be used to fix market failures.

How does the market for education fail?

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Which of the following statements is the most accurate? Sole proprietorships are well suited for people who want to own a busine
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D. Sole proprietorships are taxed at the owner's personal tax rate

Explanation:

Sole Proprietorship can be defined as a simplest form of owning and starting any business. As the term suggests, this business is onwed by an individual only or shared by married couples.

Sole properietorship is easy to set up because the owner need not to register itself to state government, therefore, because of absence of governmental involvement, it is easy to set up or deconstruct sole proprietorship.

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