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Hoochie [10]
3 years ago
11

Equipment originally costing $65,000 has accumulated depreciation of $25,000. If the equipment is sold for $30,000, the company

should record: Multiple Choice A gain of $10,000. A loss of $10,000. A loss of $35,000. No gain or loss.
Business
1 answer:
Ksenya-84 [330]3 years ago
6 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Equipment originally costing $65,000 has accumulated depreciation of $25,000. The equipment is sold for $30,000.

An asset provides gain or loss depending if the selling price is higher or lower the book value.

Book value= Purchasing price - accumulated depreciation

Book value= 65,000 - 25,000= $40,000

Gain or loss from selling the equipment= selling price - book value

Loss from selling the equipment= 30,000 - 40,000= -$10,000

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On January 1, 2019, Upward Company purchased a copy machine. The machine costs $320,000, its estimated useful life is 8 years, a
qwelly [4]

Answer:

$60,000

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2 / 8 = 0.25

Depreciation expense in 2019 = 0.25 x $320,000 = $80,000

Book value at the beginning of 2020 = $320,000 - $80,000 = $240,000

Depreciation expense in 2020 = 0.25 x $240,000 = $60,000

I hope my answer helps you

6 0
3 years ago
Question 1 (10 points) You are faced with a problem. You want to go to the movies with your friends and see the latest action fl
Ray Of Light [21]

The dilemma is to decide whether to ignore mother's orders or comply with them in this situation.

<h3>What is Opportunity Cost?</h3>

Opportunity Cost refers to the losses incurred on leaving the other possible alternatives in the decision making and choosing the one. It is the value of the best alternative choose in the process of the decision making.

In the Above situation,the individual would enjoy with friends if he goes to watch the movie However it can lead to trouble with his mother.

However, if individual does cleaning of the lawn; the price would be the fun you would have to forgo.

The best course of action would be to obey your mother because the consequences of doing otherwise are much worse.

Learn more about Opportunity Cost here:

brainly.com/question/12121515

#SPJ1

7 0
2 years ago
A company has several internal-only, web-based applications on the internal network. Remote employees are allowed to connect to
aalyn [17]

Answer:

The changes to BEST counter the threat presented in this scenario is  Implement NAC to check for updated anti-malware signatures and location-based rules for PCs connecting to the internal network.

Explanation:

Implementing Network access Control NAC to check for updated anti-malware signatures and location-based rules for PCs connecting to the internal network.Network Access Control (NAC) is the best reedy that will not alter the existing work schedule in place.

This approach to computer security will unify endpoint security technology such as antivirus, host intrusion prevention, and vulnerability assessment for all users and foster stronger system authentication.

NAC will reinforce and strengthen the network security in order to prevent internal server issues from any contractor or employee henceforth.

7 0
3 years ago
Im a hot girl what is the best code if you want it starts with a P
stepan [7]

Answer:

porsche

Explanation:

i don't know that was the first thing that came to my head when I thought of p

5 0
2 years ago
A machine purchased 1 year ago for $85,000 costs more to operate than anticipated. When purchased, the machine was expected to b
goblinko [34]

Answer:

Value of S=$25000.

Explanation:

Value of P= $75000

Value of n= 5 years

Value of AOC= $36000+ $1500k (k=1 to 5)

Since the salvage value would be after 5 years=

S=($75000- $10000*5) = $75000- $50000= $25000.

Value of S=$25000.

4 0
3 years ago
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