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Vesna [10]
3 years ago
12

Oriole Company retires its delivery equipment, which cost $53,990. Accumulated depreciation is also $53,990 on this delivery equ

ipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,080 instead of 53,990.
Business
1 answer:
Aleksandr [31]3 years ago
3 0

Answer:

Please see the answer below:

Explanation:

(a)

Debit: Accumulated Depreciation     $53,990

Credit: Delivery Equipment                              $53,990

To record disposal of delivery equipment.

(b)

Debit: Accumulated Depreciation      $37,080

Debit: Loss                                             $16,910

Credit: Delivery Equipment                               $53,990

To record Loss on disposal of Delivery Equipment.

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Jobisdone [24]

Answer:

$750 favorable ; $200 unfavorable

Explanation:

The computations are shown below:

For fixed overhead budget variance:

= Budgeted fixed overhead - actual fixed overhead

= $47,420 - $46,670

= $750 favorable

For fixed overhead volume variance:

= Budgeted fixed overhead - standard fixed overhead cost allocated to production

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Hence we consider all the given information

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Which of the following statements refers to rent seeking? "There is an opportunity cost whenever the federal government spends t
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<u>Answer:</u>

<u><em>Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws</em></u>

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When individuals or firms cunningly try to get benefits from government at the detriment of others it term rent seeking.

Implying they seek shelter under this laws that benefit them the most.

For example, certain tax laws may favor the weather citizens of a country and they (the wealthier citizens) may take advantage of that.

3 0
3 years ago
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The 2016 balance sheet of Whole Foods Market reports operating assets of $5,489 million, operating liabilities of $2,066 million
frosja888 [35]

Answer:

Correct option is E.

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What’s dangerous about taking out a payday loan?
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Answer:

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