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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!

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The difference between nominal GDP and real GDP is that:
Elenna [48]

Answer:

a. real GDP adjusts the value of goods for changes in the price level and nominal GDP does not.

Explanation:

The nominal GDP is calculated by using current prices without adjusting the inflation factor int the prices of goods that are accounted for in the total GDP value. On the other hand the real GDP is calculated by adjusting inflation int he pricesof the goods which included in total GDP value. So the correct option is a. real GDP adjusts the value of goods for changes in the price level and nominal GDP does not.

4 0
3 years ago
. Drayser Corporation has budgeted sales of 23,000 units, targeted ending finished goods inventory of 9,000 units, and beginning
natali 33 [55]

Answer:

Production= 26,000

Explanation:

Giving the following information:

budgeted sales of 23,000 units, targeted ending finished goods inventory of 9,000 units, and beginning finished goods inventory of 6,000 units.

<u>To calculate the production required, we need to use the following formula:</u>

Production= sales + desired ending inventory - beginning inventory

Production= 23,000 + 9,000 - 6,000

Production= 26,000

7 0
2 years ago
What is the value of (123)°?​
Maksim231197 [3]

Explanation:

The value refers to the worth of each digit depending on where it lies in the number. We calculate it by multiplying the place value and face value of the digit. Value=Place Value × Face Value. For instance: If we consider a number 45.

5 0
2 years ago
Lane is considering a career as a public relations specialist in which he
Stels [109]

Answer:

0.73 or 73%

Explanation:

Return on investment (ROI) shows the benefit an investor receives in relation to their invested amount. It is expressed as a ratio or a percentage of the net income against the investment's cost.

It is calculated using the formula below.

ROI = returns( profits)/ cost of investments.

For Lena, the cost of investment is $52,000( cost of the degree). The returns for one are the earnings in the year, which is $38,000.

ROI= $38,000/ $52,000

ROI =0.73 or 73%

3 0
2 years ago
Prox Inc. is a U.S.-based manufacturer of consumer electronics. It decides to export to Mexico and wants to protect its goods ag
Alina [70]

Prox Inc. is a U.S.-based manufacturer of consumer electronics. It decides to export to Mexico and wants to protect its goods against damage, loss, and pilferage. The document which is applicable here is an A. <u>insurance certificate.</u>

<u />

Explanation:

  • A certificate of insurance is a document used to provide information on specific insurance coverage.
  • The certificate provides verification of the insurance and usually contains information on types and limits of coverage, insurance company, policy number, named insured, and the policies' effective periods
  • Certificate of Insurance is a summary document usually issued by an agent on behalf of an insurer that says a policy has been issued to an insured for a general type of risk.
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3 years ago
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