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3 years ago

Which of the following is not true in regard to selling fixed assets?

Business

1 answer:

svetoff [14.1K]3 years ago

4 0

Answer: Option D

Explanation: Accumulated depreciation refers to the total amount of reduction in value that an asset has incurred upto a certain point of time. Depreciation is charged on fixed assets.

When a fixed asset is sold or discarded the accumulated deprecation of such asset is debited from the value to ascertain actual value of the asset.

If the selling amount received exceeds the actual value then a gain is recorded.

Hence from the above we can conclude that the correct option is D.

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Marriott International, Inc. (MAR) and Hyatt Hotels Corporation (H) are two major owners and managers of lodging and resort prop

garik1379 [7]

Abstracted earnings statement statistics for the two agencies are as follows for the latest yr (in tens of millions): Marriott Hyatt working profit.

Marriott worldwide, Inc. turned into fashioned in 1993 whilst Marriott organization break up into corporations: Marriott International, Inc., which franchises and manages houses, and Host Marriott organization (now Host inns & accommodations), which owns properties.

Marriott Global, Inc. is a main worldwide lodging enterprise with more than 8,000 residences in 139 international locations and territories. The enterprise that started out in 1927 as a 9-seat A&W root beer stands in Washington, DC is recognized these days as a top enterprise and for our advanced enterprise operations.

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2 years ago

Assume the firm has a tax rate of 22 percent. c-1.Calculate return on equity (ROE) under each of the three economic scenarios be

MakcuM [25]

Answer:

From the attached excel file, we have:

a-1. We have:

ROE under recession = 10.43%

ROE under normal = 13.21%

ROE under expansion = 14.92%

a-2. We have:

Percentage changes in ROE when the economy enters a recession = -21.00%

Percentage changes in ROE when the economy expands = 13.00%

b-1. We have:

ROE under recession = 15.63%

ROE under normal = 21.06%

ROE under expansion = 24.42%

b-2. We have:

Percentage changes in ROE when the economy enters a recession = -25.77%

Percentage changes in ROE when the economy expands = 15.95%

c-1. We have:

ROE under recession = 8.14%

ROE under normal = 10.30%

ROE under expansion = 11.64%

c-2. We have:

Percentage changes in ROE when the economy enters a recession = -21.00%

Percentage changes in ROE when the economy expands = 13.00%

c-3. We have:

ROE under recession = 12.19%

ROE under normal = 16.43%

ROE under expansion = 19.05%

c-4. We have:

Percentage changes in ROE when the economy enters a recession = -25.77%

Percentage changes in ROE when the economy expands = 15.95%

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. Kindly see the attached pdf file for the complete question.

Also note: See the attached excel file for all the calculations required.

In the attached excel file, the following formula is used:

Percentage in ROE = ((ROE of Recession or Expansion - ROE of Normal) / ROE of Normal) * 100

Download xlsx

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3 years ago

When managers are flexible, creative and willing to learn from mistakes, they are addressing which aspect of emerging public iss

defon

Managers are handling complexity when they are adaptable, imaginative, and prepared to learn from mistakes.

Describe complexity.

According to the scientific theory of complexity, certain systems exhibit behavioral traits that are utterly outside the scope of any traditional examination of the system's component pieces. These phenomena, also known as emergent behavior, appear to be present in a variety of complex living organism-based systems, such as the stock market and the human brain. For instance, according to complexity theorists, a stock market crash is an emergent result of the activities of several individual investors on a complex financial system, just as human awareness is an emergent characteristic of a complex network of neurons in the brain.

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2 years ago

Ayala Architects incorporated as licensed architects on April 1, 2017. During tne first month of the operation of the business,

Artyom0805 [142]

Answer:

Ayala Architects

a) Journal Entries:

Apr. 1: Debit Cash $18,000

Credit Common Stock $18,000

To record the issuance of common shares for cash.

Apr. 2: Debit Rent Expense $900

Credit Cash $900

To record the payment of rent for the month.

Apr. 3: Debit Supplies $1,300

Credit Accounts payable (Burmingham Company) $1,300

To record the purchase of supplies on account.

Apr. 10: Debit Accounts receivable $1,900

Credit Service Revenue $1,900

To record the sale of services on account.

Apr. 11: Debit Cash $700

Credit Unearned Service Revenue $700

To record receipt of cash in advance for services.

Apr. 20: Debit Cash $2,800

Credit Service Revenue $2,800

To record the receipt of cash for services rendered.

Apr. 30: Debit Salaries and Wages Expense $1,500

Credit Cash $1,500

To record payment of salaries for the month. ($375 * 4 weeks)

Apr. 30: Debit Accounts payable (Burmingham Company) $300

Credit Cash $300

To record payment on account.

b) T-accounts

Cash

Account Titles Debit Credit

Common stock $18,000

Rent $900

Unearned revenue 700

Service revenue 2,800

Salaries and wages 1,500

Accounts payable 300

Balance 18,800

Accounts Receivable

Account Titles Debit Credit

Service Revenue $1,900

Supplies

Account Titles Debit Credit

Accounts payable $1,300

Accounts Payable

Account Titles Debit Credit

Supplies $1,300

Cash $300

Balance 1,000

Unearned Service Revenue

Account Titles Debit Credit

Cash $700

Common Stock

Account Titles Debit Credit

Cash $18,000

Service Revenue

Account Titles Debit Credit

Accounts receivable $1,900

Cash 2,800

Balance $4,700

Salaries and Wages Expense

Account Titles Debit Credit

Cash $1,500

Rent Expense

Account Titles Debit Credit

Cash $900

c) Trial Balance

As of April 30, 2017:

Account Titles Debit Credit

Cash $18,800

Accounts receivable 1,900

Supplies 1,300

Accounts payable $1,000

Unearned Service Revenue 700

Common Stock 18,000

Service Revenue 4,700

Salaries and wages exp. 1,500

Rent Expense 900

Totals $24,400 $24,400

Explanation:

a) Data and Analysis:

Apr. 1: Cash $18,000 Common Stock $18,000

Apr. 2: Rent Expense $900 Cash $900

Apr. 3: Supplies $1,300 Accounts payable (Burmingham Company) $1,300

Apr. 10: Accounts receivable $1,900 Service Revenue $1,900

Apr. 11: Cash $700 Unearned Service Revenue $700

Apr. 20: Cash $2,800 Service Revenue $2,800

Apr. 30: Salaries and Wages Expense $1,500 Cash $1,500 ($375 * 4 weeks)

Apr. 30: Accounts payable (Burmingham Company) $300 Cash $300

5 0

3 years ago

A market produces too much of a good when the price of the good is: greater than the marginal social cost of providing it. equal

vampirchik [111]

Answer:

less than the marginal social cost of providing it.

Explanation:

A market produces too much of a good when the price of the good is less than the marginal social cost of providing it.

No consumer would willingly pay for an efficient quantity of a public good, because the marginal benefit to a consumer is less than the marginal social benefit.

Also, If the marginal social benefit received from a good is less than the marginal social cost of production, then society's well-being can be improved if production decreases.

5 0

4 years ago

Read 2 more answers