Answer:
a loss of $3,000
Explanation:
A company makes a gain on the disposal of an asset when the amount received from the disposal is higher than the net book value or carrying amount of the asset.
The netbook value of the asset is the difference between the cost and the accumulated depreciation of the asset. The accumulated depreciation is the total depreciation over the used life of the asset and the depreciation is the result of the cost less residual value divided by the estimated asset life.
In light of the above,
Annual depreciation = ($48,000 - $8,000)/8
= $5,000
Between January 1 2020 and December 31 2022 is 3 years,
Accumulated depreciation at December 31, 2022
= 3 * $5,000
= $15,000
NBV at December 31, 2022
= $48,000 - $15,000
= $33,000
Gain/(loss) on disposal = $30,000 - $33,000
= ($3,000)
The company would record a loss of $3,000
Answer:
Total cost= $8,606
Explanation:
Giving the following information:
Job 450:
Direct materials= $2,108
A total of 36 direct labor-hours and 234 machine-hours were worked on the job.
The direct labor wage rate is $18 per labor-hour.
The predetermined overhead rate is $25 per machine-hour.
<u>We need to calculate the total cost for Job 450:</u>
Direct materials= 2,108
Direct labor= 36*18= 648
Overhead= 234*25= 5,850
Total cost= $8,606
Answer:
a. Foreign Portfolio Investment
b. a. Provide tax breaks and patents for firms that pursue research and development in health and sciences.
d. Protect property rights and enforce contracts.
Explanation:
This is an example of Foreign Portfolio Investment (FPI). Foreign portfolio investment is when an entity from a foreign country invests in another country by buying the shares of a company in the local country. The American company bought shares in Argentina so the qualifies as FPI.
To increase productivity companies that are pursuing research should be given patents and tax breaks. The tax breaks will enable them have more money to reinvest into the research and the patent will provide incentive to them to continue the research knowing full well that they will be compensated by being the only ones to be able to use the technology invented for some time.
Also protecting property rights and enforcing contracts encourages investment in a country because people will be more trusting of making a return from business dealings. Higher investment leads to more productivity and growth.
<span>Mike will earn $2,400,000 for the year. Social security withholds 6.2% which equals $148,800, though Social security has a maximum base amount of $118,500. So the total amount withheld for Social Security will be $118,500. Medicare withholds 1.45% which equals $34,800. So the total amount withheld for Medicare will be $34,800. The total withheld from both Social Security and Medicare would be $153,300.</span>
Answer:
parenting time or visitation
Explanation:
