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anygoal [31]
3 years ago
14

On December 31, 2013, Stable Company sold a piece of equipment that was purchased on January 1, 2008. The equipment originally c

ost $910,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $257,000?
Business
1 answer:
LiRa [457]3 years ago
6 0

Answer:

The company should recognize a gain on disposal of $29500

Explanation:

The straight line depreciation method charges a constant depreciation expense per year through out the estimated useful life of the asset.

The straight line depreciation expense per year is,

(Cost - salvage value) / estimated useful life

Depreciation expense = (910000 - 0) / 8   =  $113750

The number of years till 31 December 2013 = 6 years

The accumulated depreciation till December 31, 2013 = 113750 * 6 = $682500

The carrying value of the asset at 31 December 2013 = 910000 - 682500 = $227500

The gain/loss on sale = 257000 - 227500  =  $29500 gain

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Fiscal policy may end up being destabilizing to an economy because:___________
Drupady [299]

Answer:

D. The economy is almost always at full employmeny.

Explanation:

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8 0
2 years ago
Company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each using the last-in,
Georgia [21]

Answer:

Debited by $400

Explanation:

Calculation for the Cost of Goods Sold

Using this formula

Cost of Goods Sold= Inventory on hand*(Cost-Current replacement cost)

Let plug in the formula

Cost of Goods Sold=200 units * ($12 - $10)

Cost of Goods Sold= 200 units*2

Cost of Goods Sold = $400 Debited

Therefore the Cost of Goods Sold will be:$400 Debited

8 0
3 years ago
For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following a
Mariana [72]

Answer:

b. Liabilities assumed, at book value.

Explanation:

International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) require everything (Assets, Liabilities and Non-controlling interest) to be measured at the fair market value, the amount a third-party would pay on the open market, at the time of acquisition — the date that the acquirer took control of the target company.

3 0
3 years ago
Why is management contracting a safe way to get involved in global business?
____ [38]
To increase profits while taking low to no risk as to their current funds<span />
4 0
3 years ago
What is 30% of 3/5​
Setler79 [48]

Answer: Solution for What is 30 percent of 3/5

30 percent *3.50 =

(30:100)*3.50 =

(30*3.50):100 =

105:100 = 1.05

Now we have: 30 percent of 3.50 = 1.05

Question: What is 30 percent of 3.50?

Percentage solution with steps:

Step 1: Our output value is 3.50.

Step 2: We represent the unknown value with $x$x​.

Step 3: From step 1 above,$3.50=100\%$3.50=100%​.

Step 4: Similarly, $x=30\%$x=30%​.

Step 5: This results in a pair of simple equations:

$3.50=100\%(1)$3.50=100%(1)​.

$x=30\%(2)$x=30%(2)​.

Step 6: By dividing equation 1 by equation 2 and noting that both the RHS (right hand side) of both

equations have the same unit (%); we have

$\frac{3.50}{x}=\frac{100\%}{30\%}$

3.50

x​=

100%

30%​​

Step 7: Again, the reciprocal of both sides gives

$\frac{x}{3.50}=\frac{30}{100}$

x

3.50​=

30

100​​

$\Rightarrow x=1.05$⇒x=1.05​

Therefore, $30\%$30%​ of $3.50$3.50​ is $1.05$

Explanation:

7 0
3 years ago
Read 2 more answers
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