Answer:
The correct answer is Option B.
Explanation:
Obsolescence of an asset occurs when the value of an asset has reduced drastically due to radical technological innovation or there is now a better technique used in the production process that renders the old equipment worthless or less productive.
The appropriate journal entries to record the disposal of the asset are:
Debit Accumulated Depreciation – Equipment $30,000
Debit Loss on Disposal of Plant Equipment $45,000
Credit Plant Equipment $75,000
<em>(To record disposal of an asset) </em>
Note that the proceed on the disposal is zero since the organization did not put up the asset for sale.
Answer:
The shareholder's dividend income = fair market value - mortgage value = $246,000 - $74,415 = $171,585
The shareholder's basis in the property received = fair market value = $246,000
Explanation:
Even though Global has enough earnings and profits to distribute dividends (it cannot distribute dividends if it didn't make a profit or doesn't have retained earnings), it might not have enough cash available to do so. This way the company is fulfilling its obligations with its shareholder while not using its cash reserves.
Answer:
The Supply Curve is upward-sloping and to the right because firms always seek to do what?
Maximize Profits
Explanation:
Every firms always seek to maximize profit, firms determines the price of goods to be sold and every firms ensures profit is maximized before any other things comes to play.
The correct option is C
Ground fault circuit interrupter is an electrical device which is used in electrical wiring to disconnect a circuit when unbalanced current is detected between an energized conductor and a neutral return conductor. It is usually installed underneath the ground and it is not used for temporary electrical wiring.<span />
Answer:
B. The Stated Interest Rate.
Explanation:
<em>hope</em><em> </em><em>it</em><em> </em><em>helps</em><em> </em>^^'