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lesya [120]
2 years ago
12

Testbank Multiple Choice Question 122 On January 1, 2012, Bramble Corp. purchased for $768000, equipment having a useful life of

ten years and an estimated salvage value of $36000. Bramble has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $137500. As a result of this sale, Bramble should recognize a gain of
Business
1 answer:
-BARSIC- [3]2 years ago
7 0

Answer: $28,300

Explanation:

The gain that Bramble will recognize will goes thus:

First and foremost, we have to calculate the accumulated depreciation on the equipment and this will be:

= (768,000 - 36,000)/10 x 9

= 658,800

After that, we would find the value of the net Bmbook value on Dec 31, 2020 and this will be:

= 768,000 - 658,800

= 109,200

The gain will then be:

= Sales value - Net book value

= 137,500 - 109,200

= 28,300

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It is information power
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3 years ago
Outsourcing strategies: Select one: a. Carry the substantial risk of raising a company’s costs. b. Carry the substantial risk of
Simora [160]

Answer:

The correct answer is letter "C": Involve farming out value chain activities presently performed in-house to outside specialists and strategic allies.

Explanation:

Outsourcing refers to a practice that companies engage in to take their operations abroad to lower production costs and avoid being subject to stiff regulations that might harm their profits. <em>Under this approach, firms value chain activities handled in their original country are taken to countries where the manufacturing and labor costs are much lower with and relatively similar qualified workforce and suppliers.</em>  

Outsourcing might harm the employment rate in the domestic country of the company handling operations abroad but could benefit the outsourced nation by introducing job opportunities where there may not even be basic labor conditions.

8 0
3 years ago
On July 1, 2020, Indigo Co. pays $9,400 to Sweet Insurance Co. for a 2-year insurance policy. Both companies have fiscal years e
aliya0001 [1]

Answer:

Explanation:

The journal entries are shown below:

On July 1

Prepaid insurance A/c Dr $9,400

    To Cash A/c $9,400

(Being the prepaid insurance for cash is recorded)

On December 31

Insurance expense A/c Dr $2,350

         To Prepaid insurance A/c $2,350

(Being the insurance expense is recorded)

The computation is shown below:

= Prepaid insurance amount ÷ number of years × number of months ÷ total number of months in a year

= $9,400 ÷ 2 years × 6 months ÷ 12 months

= $2,350

6 0
3 years ago
Andrea and Phillip have been married for two years when they walk into the local State Farm agent's office. They see a banner (w
Amanda [17]

Answer:

$343

Explanation:

Andrea and Phillip's annual premium cost can be calculated using the cost per thousand formula:

cost per thousand = annual premium / thousands of coverage

  • cost per thousand = $0.98
  • thousands of coverage = $350,000 / $1,000 = 350

$0.98 = annual premium / 350

annual premium = $0.98 x 350 = $343

5 0
3 years ago
Our company can produce a product that incurs the following costs per unit: direct materials, $10; direct labor, $24, and overhe
kvasek [131]

Answer:

net incremental cost = $ 2.2

Explanation:

Data provided:

Direct material cost = $ 10  per unit

Direct labor cost = $ 24  per unit

Overhead cost = $ 16 per unit

thus,

the total cost of the product = $ 10 + $ 24 + $ 16 = $ 50

Now,

if bought from outside cost = $ 45

Overhead cost if bought from outside = 45% of the overhead cost

= 0.45 × $ 16 = $ 7.2

hence, the total cost if bought from outside = $ 45 + $ 7.2 = $ 52.2

since, the cost of product if bought from outside side is greater than the product is produced by own

therefore, the net incremental cost = $ 52.2 - $ 50 = $ 2.2

3 0
3 years ago
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