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denis23 [38]
3 years ago
12

An asset with a net book value of $1,225 was discarded, having no market value. How much will be recorded as a loss or gain on d

isposal?
a. loss of $1,225
b. gain of $1,225
c. no loss or gain
d. Cannot be determined with the information given.
Business
1 answer:
murzikaleks [220]3 years ago
5 0

Answer:

(A) loss of $1,225

Explanation:

Net book value is the value at which an organization or company records an asset in its balance sheet. Net book value is the original cost of an asset, without adding the depreciation, depletion, amortization, that has been accrued at the period oof the asset's useful life. So if an asset with a net book value of $1,225 was discarded, having no market value, the same amount ($1,225) will be the value recorded as a loss by the company's accountant.

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The nation with the largest percentage of publicly held land is United state of America. These lands are usually set aside for different purposes such as parks, refuge camps, forests, historical places, etc.
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3 years ago
Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred:
Diano4ka-milaya [45]

Answer:

1. General journal entries to record each transaction.

Jan. 1                         Dr.             Cr

Cash                      $103,000

Common Stock                      $103,000

Jan. 2                         Dr.             Cr

Inventory              $38,000

Account Payable                   $38,000

Jan. 4                           Dr.             Cr

Prepaid Insurance  $2,760

Cash                                           $2,760

Jan. 10                            Dr.             Cr

Account Receivable  $12,300

Sale                                             $12,300

Cost of Goods Sold   $7,300

Inventory                                     $7,300

Jan. 15                            Dr.             Cr

Cash                          $33,000

Note Payable                               $33,000

Jan. 20                            Dr.             Cr

Salary Expense         $33,000

Cash                                              $33,000

Jan. 22                            Dr.             Cr

Cash                           $10,300

Sale                                             $10,300

Cost of Goods Sold   $6,300

Inventory                                     $6,300

Jan. 24                            Dr.             Cr

Account Payable       $15,300

Cash                                              $15,300

Jan. 26                           Dr.             Cr

Cash                          $6,150

Account Receivable                     $6,150

Jan. 28                            Dr.             Cr

Utility Expense          $1,000

Cash                                              $1,000

Jan. 30                            Dr.             Cr

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Prepaid Rent               $2,150

Cash                                              $4,300

2.

MS Excel File is attached for T accounts Posting in Worksheet Named as " T Account". Please Find that.

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Alicia Tax Services paid $690 to settle an account payable. Which of the following general journal entries will Alicia Tax Servi
aleksandr82 [10.1K]

The general journal entries that  Alicia Tax Services will make to record this transaction is :Debit Accounts payable, $690; credit Cash, $690.

Based on the information given since Alicia Tax Services paid the amount of  $690 to settle an account payable which means that the appropriate journal entry to record the transaction will be:

Debit Accounts payable $690

Credit Cash $690

(To record account payable)

Inconclusion the general journal entries that  Alicia Tax Services will make to record this transaction is :Debit Accounts payable, $690; credit Cash, $690.

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Data Quality Principle

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Data should be complete, consistent, have integrity, and relevant for a specific use.

For example in marketing, a company uses names and contact information to promote their goods and services. The data needs to be correct and updated for it to be useful. Assume a customer has changed his address and phone number, and these were not updated. It will be difficult for the company to conduct business with him.

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