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charle [14.2K]
3 years ago
6

Problem IV: On 1/1/X1, Wolfpack Creamery sold one of its ice cream trucks for $35,000 cash. Just prior to its sale, the "Truck"

asset account had a normal account balance of $60,000 and its related "Accumulated Depreciation" account had a normal account balance of $28,000. A. Compute the amount of gain or loss on the sale by comparing the book value of the sold asset to the cash received. Amount: _$____35000___ Cash received 3500 Book value of asset given up 32000 Gain/Loss on Sale 3000
Business
1 answer:
iragen [17]3 years ago
7 0

Answer:

Gain on disposal 3,000

Explanation:

purchase cost                      60,000

accumulated deprecation (28,000)

          book value               32,000

sales value:                        35,000

gain on disposal:                 3,000

As we sale for a higher price than book value we recognzie an accounting gain for 3,000

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On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $2.00 par, common shares, t
ozzi

Answer:

No journal is needed

Par value  is now $1

Explanation:

There is journal entry for stock split no new funds were received from stockholders and the fact that the equity stockholders capital remain the same after the stock split.

It is a mere book redenomination where the number of outstanding shares in issue is increased while the par value is reduced  proportionally.

In essence a stock split of 2 for 1 means one share is added to existing one and the two shares are now priced at the value of one previously

The par value after stock split=1/2*$2=$1

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3 years ago
Which of the following promotion tools involves building up a good corporate image and handling unfavorable stories and events?
CaHeK987 [17]

Answer:

Public relation

Explanation:

Public relation is assumed to be one of the most efficient tool for making good healthy relation in market. it is practical tool that work firmly and efficiently with cost effective way to promote the business to the next level.

public relation make awareness among the potential customer in a short time period effectively.

8 0
3 years ago
Do you think that customers are impressed with the effort that Gap has made to respond to the need to have more worker friendly
KonstantinChe [14]

Answer:

Yes, I think that customers are very impressed with their customer service

Explanation:

I'm impressed.

8 0
3 years ago
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $213,000 including installation
djyliett [7]

Answer:

The depreciation schedule for six years is attached below.

Explanation:

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3 years ago
Fill in the blanks: Standard deviation measures ______ risk, while beta measures ______ risk.A. Asset-specific; market-wideB. Ma
BaLLatris [955]

Answer: Option D

Explanation: In simple words, standard deviation refers to the amount of variation in a data. Whereas, beta refers tot eh Greek letter that is used to denote a series or category.

Hence when we say of standard deviation we take all the data into consideration while in case of beta risk calculations of specific part is taken into consideration.

Hence from the above we can conclude that the correct option is D .

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