1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MrRissso [65]
2 years ago
15

Adelphi Company purchased a machine on January 1, 2017, for $70,000. The machine was estimated to have a service life of ten yea

rs with an estimated residual value of $5,000. Adelphi sold the machine on January 1, 2021 for $23,000. Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for the equipment sale entry made on January 1, 2021. Enter a loss as a negative number.

Business
1 answer:
mestny [16]2 years ago
5 0

Answer:

Loss on Sale of Non-Current Asset is -$5,672.

Explanation:

The key points to remember here are:

  • We compare Carrying Value (Cost - Accumulated Depreciation) with Selling Price to calculate gain/loss.
  • Adelphi Company has used the machine for 4 years. So, deduct the depreciation of 4 years from the Cost of Machine.
  • Double-Declining Rate is calculated as (1/10)*(2) = 20%. Multiply this rate with the Carrying value of each year to get the depreciation figure for next year.

I've attached a screenshot of my workings, I hope it will help you better understand the scenario. Thanks!

You might be interested in
Although True Ion Inc. and One Electro Inc. operate in the same consumer electronic industry, True Ion Inc. has better sales and
Degger [83]

Answer:

The correct answer is B. resource heterogeneity.

Explanation:

The theory of resources and capabilities states that organizations are different from each other based on the resources and capabilities they have at a given time, as well as the different characteristics of the same and that these resources and capabilities are not available to all companies Under the same conditions. This theory allows us to direct the internal analysis towards the most relevant aspects of the social interior of the organization, in relation to the external analysis performed and as a basis for the general strategic approach and subsequent human resources. It is also a tool that allows you to determine the internal strengths and weaknesses of the organization. And according to this theory, the only way to achieve sustainable competitive advantages is through the development of distinctive capabilities.

7 0
3 years ago
In your opinion, what is the riskiest stage of new product development?
galben [10]

Answer:

probably quality

Explanation:

if it's a bad quality I wouldn't buy and if its not animal cruelty free

8 0
3 years ago
Read 2 more answers
Theory x in business
scoray [572]
Motivation. Theory X<span> assumes that people dislike work; they want to avoid it and do not want to take responsibility.</span>Theory<span> Y assumes that people are self-motivated, and thrive on responsibility.</span>
4 0
3 years ago
While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her to visit its website for online specials a
jolli1 [7]

Answer:

The correct answer is E

Explanation:

Educate is the word which is defined as teaching, train, provide intellectual, social instruction and moral to someone, which is usually at a university or at a school.

When the potential consumers who arrive at the stores or websites, the marketer have the opportunity for educating the customers regarding the offered advantage or benefits and the value proposition. Therefore, it is an example of educating the consumers.

4 0
3 years ago
In a planned economy, prices of commodities are controlled by _________.
AnnZ [28]
<h3>Answer:</h3>

C. The government

<h3>Explanation:</h3>

Vocabulary

First, it is important to define the key terms in the question and answers.

  • Planned Economy- A planned economy is an economy where the investments and capital are allocated by the government.
  • Commodities - Commodities are economic goods that have real value due to their real-life usefulness (like lumber) or rarity (like gold).

How Planned Economies Work

As its name suggests, a planned economy plans the economy out and the price of goods within the markets. These plans are created by the government. This means that private businesses, consumers, and supply/demand do not control prices. Only the government can do that because the government has full control of planned economies. This is the reason that planned economies are also called command economies because the economy is commanded by the government.

5 0
2 years ago
Other questions:
  • Jake and janelle loved to prepare gourmet meals for friends and family. they started a business of preparing theme type dinners
    8·1 answer
  • The ratio of the increase in ________ to the increase in ________ is called the multiplier.
    5·1 answer
  • Which of the following is a way to track your money?
    12·1 answer
  • 3. Problems and Applications Q3 This chapter discusses companies that are oligopolists in the market for the goods they sell. Ma
    12·1 answer
  • All of the following are true regarding variance investigation except: a.every variance is investigated. b.managers must conside
    7·1 answer
  • You are hired by the Chair of the Federal Reserve to manage the trading desk at the New York Fed and the Chair tells you that he
    13·1 answer
  • For each of the following item below, indicate to which category of elements of financial statements it belongs.
    11·1 answer
  • Which of the following is NOT true about the Free Application for Federal Student Aid (FAFSA)?
    9·1 answer
  • HELP HELP 10 POINT FOR YOU ILL MAKE IT 20 HELP HELp
    14·2 answers
  • Many companies have and will adopt a code of ethics. These codes can vary greatly but can be placed in two categories.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!