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gregori [183]
3 years ago
14

Equipment that had been acquired several years ago by a special revenue fund at a cost of $40,000 was sold for $15,000 cash. Acc

umulated depreciation of $30,000 existed at the time of the sale. The journal entry to be made in the governmental activities journal will include all of the following except:A) A debit to Cash for $15,000. B) A debit to Accumulated Depreciation for $30,000. C) A credit to Equipment for $40,000. D) A credit to Other Financing Sources for $5,000
Business
1 answer:
ladessa [460]3 years ago
5 0

Answer:

D) A credit to Other Financing Sources for $5,000

Explanation:

Since cash is received, you must record the $15,000 in the cash account. The accumulated depreciation account must be closed, and since accumulated depreciation has a credit balance, it is closed by debiting it. Equipment is an asset account with a debit balance and it also must be closed, ans you do that with a credit.

Other financing sources is used to record non-revenue items such as proceeds from loans, leases, sales of bonds or notes, insurance  recoveries, etc., not the sale of assets.  

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Blogs and blogging tools are critical methods in accomplishing which segment of the 4e framework of social media marketing?
labwork [276]
The answer to this question is: Educate
In social media framework, educate refers to the ability to give additional in-depth knowledge about your field of business.
For example, you could use social media to promote your vegetarian products and educate the users on the dietary benefit that they could get by consuming more fruits and vegetables in the process.
5 0
3 years ago
Examine the four different companies in the table, which shows their yearly
Dovator [93]

The type of taxation this table represents is option B Progressive Tax.

What are the type of Taxation?

There are mainly four types of Taxes, these are Regressive, progressive, Indirect, and Proportional. In the given question, the Progressive Taxation system is represented.

A Progressive Taxation system is one where companies which have lower income have lower tax rate in comparison to big companies. In the given question, the company which have the lowest income is giving 10% of total income, while the largest company is giving 20% of their income.

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3 0
2 years ago
Which of the following accounts are normally reported as current liabilities on a classified balance sheet?
IRISSAK [1]

Answer:

d. Income Taxes Payable and Salaries Payable

Explanation:

Current liabilities are short term obligations of an entity due for repayment within a period of 12 months.

From the options given d. Income Taxes Payable and Salaries Payable both presents current liabilities.

7 0
3 years ago
g Marginal revenue product (MRP) of labor refers to the: A. amount by which a firm's total resource cost increases when it emplo
UNO [17]

Answer:

c

Explanation:

Marginal revenue product (MRP) is the change in total revenue when one more unit of a resource is employed.

For example :

Units of labour    Revenue

1                             100

2                             200

The MRP of employing 2 units of labour = (200 - 100) / (2 -1) = 100                          

7 0
3 years ago
Suppose maria and nikki can produce ballet shoes. if maria's opportunity cost of producing ballet shoes is higher than nikki's o
luda_lava [24]

If  Maria's opportunity cost of producing shoes is higher than nikki's opportunity cost of producing shoes, then Nikki has a comparative advantage in the production of baellet shoes.

What is meant by production?

Making something out of parts or raw materials is the act of producing something. In other words, manufacturing uses inputs to create an output that is suitable for consumption—a good or product with value for a consumer or end-user.

Production is the process of combining various immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an output, a good or service that has value and enhances people's usefulness.

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8 0
1 year ago
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