Answer:
a loss of $3,000
Explanation:
A company makes a gain on the disposal of an asset when the amount received from the disposal is higher than the net book value or carrying amount of the asset.
The netbook value of the asset is the difference between the cost and the accumulated depreciation of the asset. The accumulated depreciation is the total depreciation over the used life of the asset and the depreciation is the result of the cost less residual value divided by the estimated asset life.
In light of the above,
Annual depreciation = ($48,000 - $8,000)/8
= $5,000
Between January 1 2020 and December 31 2022 is 3 years,
Accumulated depreciation at December 31, 2022
= 3 * $5,000
= $15,000
NBV at December 31, 2022
= $48,000 - $15,000
= $33,000
Gain/(loss) on disposal = $30,000 - $33,000
= ($3,000)
The company would record a loss of $3,000
Answer:
Packaging
Explanation:
Since in the question, it is mentioned that for differentiating the product from its competitors John decided to sell its beverages in containers i.e. specially designed also you keep the juice fresh till 7 days even without refrigeration
So here the John is focused on Packaging component as he wants to make that product i.e differentiate from its competitors also he packaged the product in that way that it looks attractive by adding some special kind designs add on it
Therefore the packaging is the most appropriate option
Answer:
Total Current assets = $622,000
Explanation:
<u>Balance sheet (For the year ending)</u>
<u>Current asses Amount </u>
Accounts receivable $220,000
Cash $83,000
Stock $275,000
Finished goods $89,000
Raw materials $94,000
W.I.P $92,000
<u>Prepaid expenses $44,000 </u>
<u>Total Current assets $622,000 </u>
Answer:
Ahmad must report his disability payments as income.
Explanation:
Disability payments are taxable only if the insurance premium was paid by Ahmad's employer (which happened in this case). If Ahmad had paid the premium himself, then the disability premiums would not be considered income. If the premiums had been paid by both Ahmad and his employer, then only the proportion paid by Ahmad's employer would have been taxed.
