Answer: There was no gain or loss on the sale of this asset.
Explanation: In order to calculate how much profit/loss was made on an asset when it is sold, you have to take the cost price of the asset, and deduct the accumulated depreciation of the asset up to the date of sale. This is known as the book value of the asset, and shows how much it was worth on the day it was sold.
Cost price is the purchase price that the asset was worth on the day it was bought by Strike Company. Accumulated depreciation is the total reduction of the worth of an asset periodically, because of wear and tear.
Book value is calculated as:
Cost price: $244,400
- Accumulated depreciation: ($219,960)
= Book Value = $24,440
However the asset was sold for $24,440. This means that Strike Company sold this asset at its pure value, which is the book value. Thus forfeiting the chance to make a profit, or a loss.
Answer: 2.75 blankets.
Explanation:
The opportunity cost is the value of a good that is sacrificed by choosing some other alternative. So, there are certain costs associated with the consumption of some goods.
In our case,
Opportunity cost of producing 1 shirt = 
= 2.75 blankets
Opportunity cost of producing 1 shirt is 2.75 blankets which means that 2.75 blankets have to be foregone to produce 1 shirt.
Answer:
These teams are both cross functional and project teams.
Explanation:
Cross functional team comprises of group of people who have different functional expertise and come from various aspects of organization.
These people come from different departments of the organization and work for a common goal.
Organizations often form cross-functional team for a short period for specific projects.
Here, this team is formed for the project of product launch so it is an example of cross functional project team.
Answer:
0
Explanation:
Because she is a chronically ill individual, Julia may exclude the full amount she receives as it is less than the amount of actual expenses and the daily limitation of $300 established by law.
That's why the taxable amount is 0.
