<span>$65,000. A city water water-waste department has a four-year-old sludge pump that was initially purchased for $65,000. This pump can be kept in service for an additional four years, or it can be sold for $35,000 and replaced with a new pump. The price of the replacement pump is $50,000.</span>
The amount of the journal entry are as follows:-
Cash $15000
Accumulated Depreciation $10000
Equipment cost $35000
Loss on sale $10000
<h3>What is Depreciation?</h3>
An asset loses value over time as a result of use, damage, or obsolescence. Depreciation is the measurement for this decline.
The complete solution is attached below.
Depreciation, or a decline in asset value, can be brought on by a variety of other variables, such as bad market conditions, etc.
Thus the journal entry credit amount is Equipment cost $35000 and Debit amount of the journal entry are Cash $15000 Accumulated Depreciation $10000 and Loss on sale $10000.
Learn more about Depreciation here:
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Answer:
The value of interest is 7,387%
Explanation:
We will first deal with fund A. First we will deal with the first 5 years earning interest at 15%.
Using a financial calculator we enter the following keystrokes
n = number of years i = interest pmt = annual payments FV = future value
n = 5 i = 15% pmt = 100 COMP FV
FV = 674,23
Now we wil use 674,23 as our Present Value (PV).
n = 8 PV = 674,23 i = 6% pmt = 100 comp FV
FV = 2064,36
Now we use this figure as the FV in Fund B to determine the interest rate.
n = 13 FV = 2065,36 pmt = 100 comp I *Note that either payments or FV needs to be entered as a negative otherwise the calculator will give you an error.
Interest = 7,387%
Answer:
29,394 units
Explanation:
The formula for break even point is given as Fixed cost / Contribution margin.
Where;
Contribution margin = Sales per unit - Variable cost per unit
Given that ;
Fixed cost = $194,000
Unit selling price = $14.90
Unit variable cost = $8.30
Therefore;
BEP(units) = $194,000 / $14.90 - $8.30
= $194,000 / $6.6
= 29,394 units