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
Lady bird [3.3K]
2 years ago
12

On January 1, 2018, Lumos Company purchased a machine for $70,200. Lumos uses straight-line depreciation and estimates an eight-

year useful life and an $5,400 salvage value. On December 31, 2021, Lumos sells the machine for $42,000. In recording this sale, Lumos should reflect:
Business
1 answer:
jeka942 years ago
6 0

Answer:

Gain= $4,200

Explanation:

Giving the following information:

Purchase price (2018)= $70,200

Salvage value= $5,400

Useful life= 8 years

Selling price= $42,000

<u>First, we need to calculate the depreciation expense and accumulated depreciation:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (70,200 - 5,400) / 8

Annual depreciation= $8,100

Accumulated depreciation (ending 2021)= 8,100*4= $32,400

<u>If the selling price is higher than the book value, the company gain from the sale. Now, we need to determine the book value.</u>

<u></u>

Book value= purchase price - accumulated depreciation

Book value= 70,200 - 32,400= $37,800

Gain/loss= selling price - book value

Gain/loss= 42,000 - 37,800

Gain= $4,200

You might be interested in
California has an average rainfall of 3 inches for the month of January. This year California had over 12 inches, which is equiv
crimeas [40]
Does not belong in high school
12/3 = 4 
we - 1 because 3 inches annually (100% increase would mean 6 inches)
300% increase


8 0
3 years ago
_____ refers to the systematic process of regulating a company's activities to make them consistent with the expectations establ
lukranit [14]

Answer:

Organisational control refers to the systematic process of regulating a company's activities to make them consistent with the expectations established in plans, targets, and standards of performance

Explanation:

Organisational control involves the process of influencing the members of an organisation to work in line with the achievement of the objectives of the organisation.  organisational control when properly designed is capable of  improving the organisation's  performance because it will allow the organisation to effectively execute its strategies.

 Organisation control involves setting standards, measuring performance and ensuring that performance conforms with standards and if need be make corrections.

3 0
3 years ago
A ____ is a gift to a retailer who purchases a specified quantity of merchandise
Setler79 [48]
Dealer loader is correct
4 0
3 years ago
kelsie blames steve for all her shortcomings at work even though he is the hardest working member on the team. in the context of
Dmitriy789 [7]

When someone like Kelsie blames Steve for all her shortcomings at work even though he is the hardest working member on the team, it is an example of political workplace deviance. Therefore, the option B holds true.

<h3>What is the significance of workplace deviance?</h3>

Workplace deviance can be referred to or considered as the tendency of an employee or a member of an organization to intentionally cause a sense of harm to the regular functioning of the organization.

A political deviance is a type of workplace deviance wherein an employee in higher authority starts blaming others for slightest of irregularities in the team.

Therefore, the option B holds true and states regarding the significance of workplace deviance.

Learn more about workplace deviance here:

brainly.com/question/28538100

#SPJ1

The missing options to the question are added below for better reference.

A. group deviance

B. political deviance

C. personal aggression deviance

D. property deviance

7 0
1 year ago
Choose one current event. Describe the event and discuss the economic implications of this event. What economic effects might th
Ronch [10]

Answer:

For example, Brexit. Brexit refers to the UK retreat from the European Union, one of the most famous economic unions in the world. The economic implications of Brexit are numerous, ranging from the new tariff regulations to the regulated movement of people and animals through the newly established borders.

As for individuals, let's see the example of an EU citizen seeking a Master's degree in the UK. That student may face a different tuition fee when applying after Brexit.

5 0
3 years ago
Other questions:
  • Hollandaise sauce contains mostly
    5·2 answers
  • A closed economy a. does not engage in international borrowing or lending. b. does not engage in international trade of goods an
    14·1 answer
  • Business personal property rendition of taxable property. True or False
    5·1 answer
  • Which set of personal qualities is essential for a good manager?
    12·1 answer
  • Nan presents her plan for a slip-on shoe that is water repellent, inexpensive, and highly fashionable. She believes that the mar
    11·1 answer
  • If 11 workers can produce a total of 54 units of a product and the 20 worker has a marginal product of six units what is the ave
    13·1 answer
  • Which of the following statements is correct? Multiple Choice A transaction that is properly recorded in the cash payments journ
    15·1 answer
  • International trade currently involves about ______________ worth of goods and services moving around the globe.
    6·1 answer
  • In what generation of computers was the<br> supercomputer first introduced?
    14·1 answer
  • Under a licensing agreement, a licensor grants intangible property rights to the licensee. This would include
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!