Answer:
- Lena has a ORDINARY GAIN of $1,500 from the sale of the first equipment.
- Lena has a ORDINARY LOSS of $2,700 from the sale of the second equipment.
Explanation:
Lena sold the first equipment for $17,000, and that resulted in an ordinary gain = $17,000 - $15,500 = $1,500. This gain was due to a §1245 depreciation recapture.
Lena sold the second equipment for $5,500, and that resulted in an ordinary loss (§1231 loss) = $5,500 - $8,200 = $2,700.
Answer:
A mixed economy has three of the followingcharacteristics of a market economy.
Answer:
A drug store is a type of business that is likely to do well even in an economic recession.
This is because drug stores sell an essential good, that often has a high price, and that is needed by many people, specially those who suffer from chronic diseases.
In other words, people will likely reduce their consumption of many other goods before reducing their consumption of prescription drugs.
Explanations:
Required 1
Actual manufacturing overhead= $11000+20000+143000= $174000
Underapplied or overapplied overhead= Actual manufacturing overhead-Applied manufacturing overhead
= $174000-152000= $22000 underapplied
Required 2
Adjusted cost of goods sold= $342000+22000= $364000
