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Fiesta28 [93]
3 years ago
11

On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $310,000 an

d has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal?
a. Accumulated Depreciation, debit, $310,000
b. Gain on Disposal of Asset, credit, $50,000
c. Equipment, credit, $310,000
d. Loss on Disposal of Asset, debit, $260,000
Business
1 answer:
scoray [572]3 years ago
7 0

Answer:

c. Equipment, credit, $310,000

Explanation:

Whenever an asset is sold, the whole asset will be excluded from the balance sheet because it is no longer part of the assets of the business, hence the balance sheets linked to that asset will be reversed.

In this scenario, the carrying cost of $310,000 will be reversed and $310,000 will be credited to equipment

And, The accumulated depreciation with a credit balance will now be reversed and the debit of accumulated depreciation = $260,000 should be included.

Hence, the option c is correct

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On her way to a concert, Hermione stopped at a restaurant for dinner. In her purse, she had 12 bills worth a total of $40. She h
katovenus [111]

The correct statement will be that the maximum number of $5 bills that can be in Hermione's purse will be 7. So, the correct option that matches the statement is D.

The number of bills of $5 are seven, as Hermione also has at least one bill of $1.

<h3>Calculation of bills. </h3>

  • Considering Hermione has at least one bill of $1, then the computation of total bills out $40 can be shown as below,

  • 40= 1+x

  • where <em>x </em>is the number of $5 bills

  • So we know that the maximum number of bills of $5 that can be kept by Hermione is 7 as $35 is the nearest number possible and seven bills of $5 will constitute $35.

Hence, it can be concluded that option D is correct that there are seven bills of $5 in the purse of Hermione and hence there will be five bills of $1  in her purse.

Learn more about bills here:

brainly.com/question/16405660

3 0
3 years ago
The price of wine has risen from $7 to $9 per bottle and the price of cheese has fallen from $6 to $5 per pound, while Anne’s in
GuDViN [60]

Answer:

The correct answer is option C.

Explanation:

The price of wine has risen from $7 to $9 per bottle and the price of cheese has fallen from $6 to $5 per pound.

Anne’s income has stayed fixed at $46 per week.

Anne has been buying 4 bottles of wine and 2 pounds of cheese per week.

At the initial price she was spending

= ( $7\ \times\ 4)\ +\ ($6\ \times\ 2)

= $28 + $12

= $40

After the price change she has to spend

= ( $9\ \times\ 4)\ +\ ($5\ \times\ 2)

= $36 + $10

= $46

Since she has to spend more to consume the same level of output, we can say that Anne is worse off.

7 0
3 years ago
Craig and Kris were walking directly toward each other in a congested store aisle. Craig moved to his left to avoid Kris, and at
Andreas93 [3]

Answer:

does not achieve a mutually beneficial equilibrium because there is a lack of coordination of the actions of people and businesses

Explanation:

From the question, we are informed about Craig and Kris who were walking directly toward each other in a congested store aisle. Craig moved to his left to avoid Kris, and at the same time Kris moved to his right to avoid Craig. They bumped into each other. This example illustrates the concept of coordination failure and in this case, This idea relates to macroeconomic instability because the economy does not achieve a mutually beneficial equilibrium because there is a lack of coordination of the actions of people and businesses. Coordination failure can be regarded as failure that takes place as a result of group of firms want to achieve a more desirable equilibrium, but resulted to failure as a result of their decision making not been coordinated

8 0
3 years ago
Which buyclass framework occurs when a company chooses to shop around for suppliers​ with, perhaps, a better price​ structure? A
posledela

Option C

Modified rebuy framework occurs when a company chooses to shop around for suppliers​ with, perhaps, a better price​ structure

<h3><u>Explanation:</u></h3>

Modified Rebuy a purchasing circumstances in which an self or company acquires products that have been acquired earlier but varies unless the supplier or any another part of the former plan.  In this the customer requires to alter goods stipulations, terms, costs, suppliers.

In this instance the “in supplier” has to preserve his statement whereas the “out supplier” views it as a more generous proposal and earn some market. A modified rebuy is limited risky and utilizes more limited time. A new goods enlightenment from the pioneer version eternally generates a revised rebuy situation.

4 0
3 years ago
If you are paid $15 per $100 sold, what is your type of payment?
Shalnov [3]

Answer:

a. Commission

Explanation:

The commission payment system is based on an employee's output, mostly sales achieved. The commission is usually a percentage of the total sales per stipulated time, say weekly, biweekly, or monthly. In the commission-based payment, the more output an employee has, the more money they earn.

The scenario in the case is commission based. For every $100 worth of sales, the payment is $15. The more the sales, the higher the earnings.

5 0
4 years ago
Read 2 more answers
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