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Harman [31]
3 years ago
12

Rebecca sells her personal scooter for $550. She purchased the scooter for $700 three years ago. She also sells a painting for $

1,200 which she acquired five years ago for $900.
1. Rebecca has a $ _________ realized loss on the scooter and a $ ____________ realized gain on the painting. Rebecca only will recognize the gain or loss associated with the painting.
Business
1 answer:
SIZIF [17.4K]3 years ago
4 0

Answer:

Rebecca has a $150 realized loss on the scooter and a $300 realized gain on the painting

Explanation:

The question when looked from a taxation point of view centers on capital gains.Capital gains are gains on which a company or an individual pays capital gains tax upon disposal of their assets .

Since Rebecca bought the scooter for $700 but disposed of at $550 , it follows that Rebecca received $150 less from the purchaser, which is the realized loss on scooter's sale.

Also, the proceeds received by Rebecca on the painting was $300 much more than the cost of the painting,this refers to the gains recorded upon outright sale of the painting

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Of the following companies, which one would not likely employ the specific identification method for inventory costing?
Schach [20]

Answer:

The correct answer is D

Explanation:

Specific identification method of inventory is the method which helps in finding the ending cost of the inventory. And this method need the detailed physical count, as it helps the company in making or knowing how many goods brought on particular dates which is remained at the end of the year inventory.

Under this method, the companies which could adopt this method, are antique shop, farm implement dealership and music store.

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3 years ago
Bob is a manager at dow corning who has lost five of his employees during the last year. now he has to make a decision about how
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The La-Z-Boy furniture company collects information about a wide variety of competitive, economic, political, legal and regulato
Stells [14]

Answer:

b) environmental scanning.

Explanation:

Environmental scanning -

It is the study that helps the organization to identify the threats and opportunities in the ecosystem to form new objectives and strategies in order to improve the performance in the industries .

It refers to the utilization and collection of the information regarding the trends , relationships and events of an industry and the usage of the knowledge for creating the objectives and strategies to future .

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7 0
3 years ago
Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Pro
vlada-n [284]

Answer:

The mark up percentage on total cost is 13%.

Explanation:

Mark up percentage on total cost refers to the profit as a percentage of the total cost.

Therefore, the mark up percentage on total cost can be calculated using the following formula:

Mark up percentage on total cost = (Desired profit / Total cost) * 100 ......... (1)

Where;

Desired profit = $143

Total cost = $1,100

Substituting the values into equation (1), we have:

Mark up percentage on total cost = ($143 / $1,100) * 100 = 0.13 * 100 = 13%

Therefore, the mark up percentage on total cost is 13%.

8 0
3 years ago
When Farmer Hoglund applies N pounds of fertilizer per acre, the marginal product of fertilizer is 1 -N/200 bushels of corn. If
eimsori [14]

Answer:

to maximize profit, farmer must use 0.208 pounds of fertilizers

Explanation:

For profit maximization, marginal revenue must be equal to marginal cost.

Here marginal product of fertilizer= 1-N/200

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total marginal revenue= (1-N/200)× 4

Total cost of fertilizer= 1.2N

To maximize profit

Marginal cost= marginal revenue

1.2N= (1-N/200)× 4

4.8N= 1-N/200

N= 0.208 pounds

to maximize profit, farmer must use than 0.208 pounds of fertilizers

6 0
3 years ago
Read 2 more answers
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