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
Tju [1.3M]
3 years ago
15

On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation o

f $16,000 at December 31, 2018. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
pashok25 [27]3 years ago
7 0

Answer:

journal entry  are given below

carrying value = $4000 and cash received is $2000

Explanation:

given data

delivery van cost = $20,000

accumulated depreciation = $16,000

Annual depreciation  = $2,000

solution

journal entry  are

date                              title                                          debit          credit

December 29, 2019    Cash                                        $2000

                                   Accumulated depreciation      $16000

                                   Delivery van                                                  $20000

note that

here carrying value is = $20000 - $16000

carrying value = $4000

and cash received is $2000

You might be interested in
Question 9 of 10
Colt1911 [192]

The correct option is OA. Selling to another company the right to make and market a product line is called spinning off.

Create a new corporation that is independent of the previous organization by spinning off something, like a company. [Firm] He saved the organization and eventually separated its textile sector into a different business.

A corporate spin-off, often referred to as a spin-out, starburst, or hive-off, is a sort of corporate activity in which a corporation "splits off" a segment as a different business or establishes a second incarnation, even if the first is still operating.

Learn more about spinning off here

brainly.com/question/15740828

#SPJ9

6 0
2 years ago
Bradford Services Inc. (BSI) is considering a project that has a cost of $10 million and an expected life of 3 years. There is a
balandron [24]

Answer:

Expected Net Cash Flow = $3.8 million

Net Present Value (NPV) = $1.0492 million

Explanation:

Given Cash outflow = $10 million

Provided cash inflows as follows:

Particulars           Good condition         Moderate condition        Bad Condition

Probability                  30%                               40%                                  30%

Cash flow                $9 million                     $4 million                       $1 million

Average expected cash flow each year = ($9 million X 30 %) + ($4 million X 40%) + ($1 million X 30%) = $2.7 million + $1.6 million + $0.3 million = $4.6 million

Three year expected cash flow = ($4.6 million each year X 3) - $10 million = $13.8 million - $10 million = $3.8 million

While calculating NPV we will use Present Value Annuity Factor (PVAF) @12% for 3 years = \frac{1}{(1 + 0.12){^1}} + \frac{1}{(1 + 0.12){^2}} + \frac{1}{(1 + 0.12){^3}} = 2.402

NPV = PV of inflows - PV of Outflows = $4.6 million X 2.402 - $10 million = $11.0492 million - $10 million = $1.0492 million

Expected Net Cash Flow = $3.8 million

Net Present Value (NPV) = $1.0492 million

3 0
4 years ago
Barney bought a small retail business a month ago. He plans to advertise it with the help of billboards and flyers to attract cu
disa [49]

Answer:

The answer is A. non-operating expense

Explanation:

As he operates a retail shop, such advertising is vital to attract customers to the shops and to make potential sales. We can't treat this expenses as administration or production expenses.

We consider this as non operational because advertising is not an operational part of the operations of a retail business. Moreover, we can't consider it as selling expenses because they are mostly incurred during the sales process.

6 0
3 years ago
True or False: Equality refers to how the pie is divided, and efficiency refers to the size of the economic pie.
SIZIF [17.4K]

Answer:

The correct answer is True.

Explanation:

Economic efficiency is the efficiency with which an economic system uses productive resources to meet its needs. According to Todaro the concept means in matters of "production, use the factors of production in combinations of lower cost, in consumption, allocation of expenses that maximize consumer satisfaction (utility)".

Economic or income equality, social equality and cultural equality would be achieved if economic, social and cultural rights - second generation human rights - are fulfilled. Equity or equal resources is essential both to fully exercise civil and political rights and to have a decent life.

8 0
4 years ago
Data mining can support the marketing function by: a. Eliminating the need for a firm to have a billing department b. Billing th
ohaa [14]

Answer:

D. Using customer's past purchase history to send information about related products and services the customer may be interested in

Explanation:

Data mining is the process whereby large pre existing databases are examined with the aim of generating new information. It is the extraction of usable data from a larger set of data. Company usually use this process to turn raw data into useful information that can be applied to their daily activities.

In the case of marketing, data mining helps in extracting useful information from a customer's purchase history in order to identify useful information on goods or services the customer may be interested in or attracted to.

3 0
3 years ago
Other questions:
  • During the month of july, clanton industries issued a check in the amount of $845 to a supplier on account. the check did not cl
    15·2 answers
  • Advertisements for high-style clothing and cosmetics usually promise that their products will enhance the consumer's exclusive o
    14·1 answer
  • A company purchased 10 units for $5 on January 3. It purchased 10 units for $7 each on February 28. It sold 10 units on March 1.
    12·1 answer
  • Which of the following occupations is among the 10 projected most rapidly declining U.S. occupations in terms of percentage decr
    14·1 answer
  • Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $25,000. The estimated useful life was
    15·1 answer
  • Why is education considered as foundation of any proffession.
    7·1 answer
  • ZOOm you there lets get on.
    12·2 answers
  • Select all that apply.
    10·2 answers
  • Government involvement in a modern economy is generally defended because:.
    7·1 answer
  • Which type of investment works by taking investors’ money, investing that collective money in stocks, bonds, and other investmen
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!