Based on the information given for Server Company, the machine will be valued a<u>t $42,000 </u>and the machinery account will be credited.
<h3>What would be the value of the machine?</h3>
The machine was sold on January 1, 20X9 and at that point, the accumulated depreciation was $28,000.
The value of the machine was therefore:
= Cost of machine - Accumulated depreciation
= 70,000 - 28,000
= $42,000
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Answer:
The U.S. newspaper industry is suffering through what could be its worst financial crisis since the Great Depression. Advertising revenues have plummeted due in part to the severe economic downturn, while readership habits have changed as consumers turn to the Internet for free news and information. Some major newspaper chains are burdened by heavy debt loads. Between 2008 and early 2010, eight major newspaper chains declared bankruptcy, several big city papers shut down, and many laid off reporters and editors, imposed pay reductions, cut the size of the physical newspaper, or turned to Web-only publication.
Explanation:
The condition will be excused because of ESTOPPEL. Estoppel is an obstruction which prevents a person from asserting a right or denying a fact. The obstruction is normally due to the person action, conduct or failure to act. The principal aim of estoppel is to prevent injustice due to inconsistency or fraud. Estoppel is of two types: equitable and legal estoppel.
Answer:
Account receivable balance = $1,100 - ($1,100* 5%)
Account receivable balance =$1,100 - $55
Account receivable balance = $1,045
Date Account Title Debit Credit
Cash Account $1,045
To Accounts receivable $1,045
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Explanation: