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Charra [1.4K]
3 years ago
11

A trucking company sold its fleet of trucks for $56,800. The trucks originally cost $1,496,000 and had Accumulated Depreciation

of $1,287,000 recorded through the date of disposal. What gain or loss did the trucking company record when it sold the fleet of trucks?
Business
2 answers:
MatroZZZ [7]3 years ago
5 0

Answer:

the trucking company recorded<em> a</em><em> </em><em>loss on disposal of $152,200 </em>when it sold the fleet of trucks.

Explanation:

Open the Truck Disposal T-Account as Follows:

Debits :

Cost                                                      $1,496,000

Totals                                                    $1,496,000

Credits:

Cash Receipt                                           $56,800

Accumulated Depreciation                $1,287,000

Profit and Loss (Balancing figure)         $152,200

Totals                                                   $1,496,000

<em>Therefore, there was a loss on disposal of $152,200</em>

Marysya12 [62]3 years ago
4 0

Answer:

loss on disposal =$152,200

Explanation:

The gains on disposal is the the difference between the net sales proceeds on disposal and the carrying value of the assets as the date of disposal.

The carrying value = Cost  of the assets - accumulated depreciation to date

Carrying value = $1,496,000- $1,287,00

                       =209,000

Loss on disposal = $56,800 - $ 209,000 = -152,200

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Answer:

The correct answer would be option A, Current Assets, and Property, Plant and Equipment.

Explanation:

In a company, there are many financial statements that are made and used to see the financial position of the company. Some of the major financial statements include, Balance Sheet, Income Statement, Cash Flow Statements, etc.

Balance Sheet is the financial statement in which the Assets, Liabilities and Owner's Equity are calculated and written. So in the Subsection of Assets head, there would be a detailed description of all Current and Fixed Assets. And that would include option A choices, Current Assets, Property, Plant and Equipment.

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Bramble Vita produces a wide range of herbal supplements sold nationwide through independent distributors. In response to an inc
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Answer and Explanation:

The Statement showing the amount and the timing of all the cash Flow of Burger is shown below:-

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0            Cost of new machine                                       ($176,300)

0            Additional installation cost of new machine   ($3,275)

0            Sales of old machine                                          $13,150

1-3          Savings in overhaul cost of old machine           $11,550

1-10        Saving in variable cost                                        $25,800

           (258,000 × ($11.90 - $11.80)

10          Salvage value of new machine                            $3,730

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Under the assumptions of the Fisher effect and monetary neutrality, if the money supply growth rate rises, then a. neither the n
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Answer:

a. neither the nominal nor the real interest rate rise.

Explanation:

Under Fisher's theory, if the nominal interest rate increases at a higher rate than the inflation rate, then the real interest rate rises. If the inflation rate increases more than the nominal interest rate, then the real interest rate decreases.

Generally, an increase in the money supply decreases the nominal interest rate and increases the inflation rate. That results in both lower nominal interest rates and lower real interest rates.

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4 years ago
Career patterns involving movement across specializations and disciplines are becoming less prevalent. True or False
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Answer:

False

Explanation:

Career patterns involving movement across specializations and disciplines are becoming more  prevalent. From the company’s perspective, failure to help employees plan their careers may result in a shortage of employees, low employee commitment, and ineffective use of training dollars. From the employee’s perspective, lack of career management may mean frustration, feelings of not being valued, and unable to find acceptable work should a job change be necessary. The career patterns are changing nowadays ,involving movement across specializations or disciplines . The more prevalent career patterns, involves more frequent job changes and across specializations .

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Ashley Anderson pays her HOA dues of $660 for the calendar year. She then sells her property and closes on June 15. What is the
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Answer:

The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34

Explanation:

<em>Step 1: Determine HOA per day</em>

Use the expression below to determine HOA per day;

T=H×N

where;

T=total HOA dues per year

H=HOA per day

N=number of days in a year

In our case;

T=$660

H=unknown

N=360 days

Replacing;

660=H×360

360 H=660

H=660/360

H=$1.83 per day

<em>Step 2: Determine amount of HOA that is due back</em>

Using the same expression;

T=H×N

but;

T=unknown

H=$1.83 per day

N=(June, 15 days)+(July, 30)+(Aug, 31)+(Sep. 30)+(Oct 31)+(Nov 30)+(Dec 31)

N=(15+30+31+30+31+30+31)=198 days

Replacing;

T=(1.83×198)=$362.34

The amount of the prepaid portion that is due back to Ashley using the 12 month, 360 day proration is=$362.34

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