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Alenkinab [10]
2 years ago
7

Slipper Company sold a productive asset, a machine, for cash. It originally cost Slipper $29,000. The accumulated depreciation a

t the date of disposal was $24,000. A gain on the disposal of $2,900 was reported. What was the asset's selling price
Business
1 answer:
Annette [7]2 years ago
7 0

Answer:

$7,900 = selling price

Explanation:

Giving the following information:

Original cost= $29,000

Accumulated depreciation= $24,000

Gain= $2,900

<u>First, we will determine the book value:</u>

<u />

Book value= original cost - accumulated depreciation

Book value= 29,000 - 24,000 = $5,000

<u>Now, the selling price:</u>

Gain/loss= selling price - book value

2,900= selling price - 5,000

$7,900 = selling price

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Which of the following refers to documents that specify the conditions under which an exchange is to occur and detail the rights
madreJ [45]

Answer:

contracts                      

Explanation:

A contract is essentially an arrangement among two parties which creates a legal duty for both sides to carry out specific events. Each group is required by law to perform the job indicated, such as making the payment or transporting goods.

A contract might be used for different transactions, like selling land or commodities, or providing services. These may be either verbal or published, although the judiciary prefer to put in print the arrangements.

It is best to think about contract statements in a sequence. The full contract development starts with talks and may experience many changes before achieving a final deal.

5 0
3 years ago
What is a subsidy wedge? the combined reduction in consumer surplus and producer surplus that results from a subsidy the amount
solmaris [256]

Answer:

the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

Explanation:

In Economics, subsidy can be defined as the amount of money or benefits such as tax reduction given by the government to sellers in order to sustain production and enable the buy to continuously purchase the product.

A subsidy wedge can be defined as the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

8 0
3 years ago
State any four uses of funding in a new business
miss Akunina [59]

Answer:

Some of these funding options are for Indian business, however, similar alternatives are available in different countries.

  • Bootstrapping your startup business
  • Crowdfunding As A Funding Option
  • Get Angel Investment In Your Startup
  • Get Venture Capital For Your Business
7 0
3 years ago
Bina Co. purchased a machine on January 1st for $15,000 and estimates it will use the machine for three years with a $3,000 salv
KATRIN_1 [288]

The machine's second year depreciation expense is $3,200.

Depreciation is a method that is used to expense the cost of an asset. The units-of-production depreciation method determines the depreciation expense based on the units of goods that the machine produces in a given year.

Unit of production depreciation expense = (unit of goods produced in year 2 / total units the machine can produce) x (cost of the asset - salvage value)

Total units the machine can produce = 1500 + 1250 + 1000 = 3750

(1000 / 3750) x ($15,000 - $3,000) = $3,200

A similar question was answered here: brainly.com/question/15858628?referrer=searchResults

4 0
2 years ago
the interest rate that determines the amount of cash interest paid each interest date is referred to as the
viktelen [127]

Answer:

Stated interest rate

Explanation:

The stated interest rate is the rate of interest in which the value of the cash interest that has to paid on each date of interest

The value of the cash interest paid could be determined by applying the following formula

= Face value of the securities × Stated interest rate

Therefore as per the given situation, the stated interest rate is the answer and the same is to be considered

5 0
3 years ago
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