1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
djyliett [7]
3 years ago
6

Green Garden Company purchased a tractor at a cost of $240,000. The tractor has an estimated residual value of $40,000 and an es

timated life of 8 years, or 10,000 hours of operation. The tractor was purchased on January 1, 2015 and was used 2,400 hours in 2015 and 2,100 hours in 2016. On January 1, 2017, the company decided to sell the tractor for $140,000. Green Garden Co. uses the units-of- production method to account for the depreciation on the tractor. Based on this information, the entry to record the sale of the tractor will show:_______
a. No gain or loss on the sale
b. A loss of $15,000
c. A loss of $10,000
d. A gain of $30,000
Business
1 answer:
Nata [24]3 years ago
7 0

Answer:

There is a loss on disposal of $10000 and option C is the correct answer.

Explanation:

The units of production method charges depreciation based on the activity level that the asset is used for during a period

The depreciation rate under this method is,

Depreciation per hour = (240000 - 40000) / 10000  =  $20 per hour

The depreciation for the Year 2015 and 2016 under the units of production method is,

2015 = 20 * 2400 = $48000

2016 = 20 * 2100 = $42000

The accumulated depreciation at the end of 2016 is = 48000 + 42000 = $90000

The carrying value at the end of 2016 is = 240000 - 90000 = $150000

The gain/loss on disposal = 140000 - 150000 = - $10000 or a loss of $10000

You might be interested in
Michael's, Inc., just paid $2.60 to its shareholders as the annual dividend. Simultaneously, the company announced that future d
mixas84 [53]

Answer:

$65.37

Explanation:

Calculation for how much are you willing to pay today to purchase one share of the company's stock

Using this formula

P/0 = D0 ( 1 + g ) / R-g

Let plug in the formula

P/0 = $2.60 (1 + .056) / .098 - .056

P/0 = $2.60 (1 .056)/0.042

P/0=$2.7456/0.042

P/0=$65.37

Therefore how much are you willing to pay today to purchase one share of the company's stock will be $65.37

6 0
3 years ago
Blank addresses change depending on the cells you
Scorpion4ik [409]

Answer:

absolute addresses change depending on the cells you copy them to.

relative addresses do not change if you copy them to a different cell.

Explanation:

A cell reference is a single cell or range of cells on a Excel worksheet. When calculations are done, these cells can be referred to. The cells are referred to using their row value and column value.

Relative references (or addresses) changes based on the position of rows and columns when a formula is copied to a different cell.

Absolute references (or addresses) do not change (remain constant) even if the formula is copied to a different cell.

5 0
3 years ago
This is section 3.7 problem 60: a clothing manufacturer has the cost function c(x)=1200+30x+0.5x2 , (in dollars), 0≤ x≤ 250 , wh
viktelen [127]

Answer:

90 suits per week must be produced and sold to achieve the maximum profit of $2,850.

Explanation:

The profit function is given by the revenue function minus the cost function:

P(x) = R(x) - C(x)\\P(x)=120x -1200-30x-0.5x^2

The number of suits, x, for which the derivate of the profit funtion is zero, is the production volume that maximizes profit:

P'(x)=0=120-30-x\\x=90\ suits

The profit generated by producing 90 suits is:

P(90)=120*90 -1200-30*90-0.5*90^2\\P(90) = \$2,850

Therefore, 90 suits per week must be produced and sold to achieve the maximum profit of $2,850.

5 0
3 years ago
The financial statements of the larson company report net sales of $1,000,000 and accounts receivable of $80,000 and $60,000 at
stepan [7]
<span>To calculate the average collection period: the average accounts receivable balance divided by average credit sales per day. With $1,000,000 per year, that is $2739.73 per day. The average accounts receivable is ($80,000 + $60,000) / 2 = $70,000 $70,000 / $2,739.73 = 25.6 days</span>
4 0
3 years ago
A music venue offers all of its customers a 40 percent discount on concert tickets for regional bands. It also offers an additio
12345 [234]

Answer:

2 tickets

Explanation:

the cost of membership is $25.

Cost of a ticket is $25

All cost get a 40 % dicsount

membersships earns a further 10% discount

total discount ofr membership eqauls 50%( 40+10)

There fore a member pays $ 12.5 { (50/100) $ 25) } for ticket

To get back cost of membership which is $25, a member need to buy 2 tricke { $25/12.5}

8 0
3 years ago
Other questions:
  • If country ABC can produce a unit of good 1 by sacrificing fewer units of good 2 than can country XYZ, it is correct to say that
    13·1 answer
  • Free market economies offer distribution methods for goods and services based on _____ .
    11·2 answers
  • Merchandise is ordered on june 13; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by th
    15·1 answer
  • Walter Utilities is a dividend-paying company and is expected to pay an annual dividend of $2.05 at the end of the year. Its div
    8·1 answer
  • When a manager assigns someone to work one-on-one with a new employee and show the new employee how the work is done, the traini
    10·1 answer
  • From the ledger balances below, prepare a trial balance for Cullumber Company at June 30, 2017. All account balances are normal.
    8·1 answer
  • Jeremy is concerned about his selection of a new hair spray because he is concerned it will not perform as well as his usual bra
    9·1 answer
  • Yum! Brands is the result of a spin-off by PepsiCo, where it sold its fast-food chains KFC, Taco Bell, and Pizza Hut. Do you con
    12·1 answer
  • The purpose of the Six Sigma method is to: Select one: a. Find and remove causes of mistakes b. Reduce variability in products a
    14·1 answer
  • Anna is creating a personal balance sheet. she plans to list these items. bank account jewelry health insurance rent which state
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!