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
lesya [120]
3 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]3 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

You might be interested in
At the end of the period, the balance left in the factory overhead account is equal to the
katrin2010 [14]

Answer:

d.total factory overhead cost variance.

Explanation:

In manufacturing accounting, at the beginning of the period, manufacturing overheads (i.e. costs other than Direct Material and Direct Labor) has been applied to Work-in-process using a predetermined overhead rate. At the end of the period, if the manufacturing overhead account shows a debit balance, that signifies that overhead has been under-applied (i.e. the manufacturing overhead cost applied to work in process is <u>less </u>than the actual manufacturing overhead cost for the period), and contrariwise if the manufacturing overhead account shows a credit balance, it means the overhead is over-applied (i.e. the manufacturing overhead cost applied to work in process is <u>more </u>than the actual manufacturing overhead cost for the period). In any case this balance warrants an adjustment to close out the books, by transferring it to the cost of goods sold account.

6 0
3 years ago
Cayo Casta Cabins Corporation recently purchased Ship Island Resort and Casino and the land on which it is located with the plan
PilotLPTM [1.2K]

Answer:

4) recorded as a reduction of the cost of the land.

Explanation:

When you are calculating the cost of any land purchased, you must start with the purchase price and add all the expenditures necessary for getting the land  ready, e.g. legal fees, taxes, real estate commissions, land grading, clearing the trees, etc., and subtract any revenue obtained, e.g. from the sale of salvaged materials or timber.

total cost of land = purchase price + (fees, commissions, grading, clearance expenses, taxes, etc.) - revenue (salvaged materials, scrap, timber, etc.)

4 0
3 years ago
Read the passage. Then answer the question that follows. Nikia designs and produces board games that she sells online. She forme
liberstina [14]

I would say the C. is the correct answer, because if the 3D Printer prints the pieces faster, the games are sold more frequently. I hope this helps, and that it makes sense to you.

6 0
3 years ago
Interest is: A- charge for lending money to a bank B-the amount owed for borrowing money C-the amount added into your savings wh
KIM [24]
B.when you take a loan out for something the faster you pay it off the less interest you have to pay
8 0
3 years ago
Does experiencing communication always result in better communication? (Interpersonal communication)
JulsSmile [24]
Yes experiencing communication will result with better communication because the experienced person may know many words and new words to complete his communication
8 0
3 years ago
Other questions:
  • What is the problem associated with service quality standards such as "be nice" or "do what the customers want"?
    7·1 answer
  • Which of the following is not a tool of Monetary Policy?
    5·1 answer
  • For each of the following items, identify whether they would most likely be reported in the balance sheet (B) or income statemen
    5·1 answer
  • Which of the following is not an example of a significant noncash transaction? Conversion of bonds into common stock. Sale of pl
    14·1 answer
  • Aggressive marketing in the context of format wars: a. does not encompass point-of-sales promotion techniques. b. deters early a
    5·1 answer
  • Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and mate
    15·1 answer
  • The following information is available for Juno Company for the month ending June​ 30, 2019. ​* Balance as per the bank statemen
    11·1 answer
  • If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on
    13·1 answer
  • Manufacturer of custom hot tubs and spas. What factors should be considered in selecting an allocation base to be used in comput
    6·1 answer
  • The equilibrium quantity in markets characterized by oligopoly is higher than in monopoly markets and higher than in perfectly c
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!