Answer:
$7,000
Explanation:
Depreciation: The depreciation is an expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement. It is a non-cash item that does not affect the cash balance.
The computation of the depreciation expense for 2017 is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($78,500 - $8,500) ÷ (10 years)
= ($70,000) ÷ (10 years)
= $7,000
In this method, the depreciation is same for all the remaining useful life
The answer would be True if it’s a true or false question
Answer:
Beau's decision to tell somebody about his company's actions is an example of: whistle blowing
Explanation:
Ethics is the study of moral human behavior. Ethical behavior usually varies with different areas. What is considered ethical is always subject to the cultural standards of that particular place. In a company environment, there are ethical standards that are supposed to be met on the part of the company and also individuals working in the company.
One major ethical standard that companies must maintain is environmental protection. This is more prevalent in manufacturing companies that have to release toxic waste to the environment in the form of fumes to the atmosphere or liquid waste to rivers and water bodies. The environment is used by all living beings and therefor it needs to be protected. Ethical standards dictate that industrial waste should be kept below toxic levels before being released into the environment.
It is also ethical for any individual working in a company and has information about unethical practices of a company to publicly expose the company so that they can be held accountable for their actions. This is referred to as whistle blowing. Beau's decision to inform a newspaper reporter about the actions of the company in destroying the environment is an example of whistle blowing. Her decision is a typical example of ethical behavior.
Book value on the date of disposal
Cost of the equipment - accumulated depreciation
45000-20000=25000
Gain on disposal of the equipment
Proceeds from sales - book value on the date of disposal
30000-25000=5000
The amount of gain on disposal (5000) is reported under “Other revenues and
gains” section of the income statement which increase the profit which transferred into shareholders equity. Also, the account of the equipment will be zero
So the answer is d
Hope it helps!
