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klasskru [66]
3 years ago
14

Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the seventh

year, the equipment is sold for $20,000. The entry to record this sale will include _______. Assume the straight-line depreciation method is used. (Select all that apply.)
Business
1 answer:
lilavasa [31]3 years ago
6 0

Answer:

the options available for this question are,

1) a debit to Cash for $20,000

2) a credit to Equipment for $30,000

3) a credit to Equipment for $100,000

4) a debit to Loss for $10,000

5) a credit to Gain for $20,000

6) a debit to Accumulated Depreciation for $10,000

7) a debit to Accumulated Depreciation for $70,000

and the correct answers are,

1, 3, 4 and 7

Explanation:

Cash is obviously debited since you get cash for the sale. you have to remove the asset from your accounts so you credit the asset the amount of its cost.

as you remove the asset, you must remove the total accumulated depreciation of that asset from all the other asset depreciation. so you debit the amount to the accumulated depreciation account.

the net value of the asset is $30,000, get this by deducting the total depreciation from the cost of the asset. then you receive $20,000 for the asset.

so that means you have a loss of $10,000!

see?? easy peasy right!??

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Laredo advertises a reward for the return of his lost dog. Miguel, who does not know of the reward, finds and returns the dog, w
Makovka662 [10]

Answer:

b. did not know of the reward when he returned the dog.

Explanation:

Laredo advertises for getting his dog back. This does not infer that the dog will only be returned when the reward will be paid.

Miguel did not know about the reward, so the reward in this case is not mandatory to be paid, but if Laredo initiates the reward himself, that can be accepted.

This is a clear demonstration of being kind and get what you know.

So if you do not know the facts, you are on fault.

4 0
3 years ago
The project manager has concerns about the software developer's project work in terms of quality and has spoken to the developer
Katen [24]

Available Options Are:

(A) Both focus on management responsibility, fulfillment of requirements, continuous improvement, prevention over inspection, and product excellence

(B) Both focus on management responsibility, continuous improvement, prevention over inspection, and customer satisfaction

(C) Both focus on management responsibility, fulfillment of requirements, continuous improvement, prevention over inspection, and customer satisfaction

(D) Both focus on management responsibility, continuous improvement, prevention over inspection, and product excellence

Answer:

Option B. Both focus on management responsibility, continuous improvement, prevention over inspection, and customer satisfaction

Explanation:

The quality management and the project management both are management study. Secondly, both of these focus on the improving the project quality and making it better in the every next step. Both management techniques prefer mistake prevention techniques over the continuous prevention which cost lower. These three things were common in all of the option above and are written in bold letters.

Option A is incorrect because fulfillment of requirements and product excellence is not part of project management though it is part of quality management.

Option B is correct because both project management and quality management says that customer satisfaction comes from quality output.

Option C is incorrect because fulfillment of requirements is not part of project management though it is part of quality management.

Option D is incorrect because product excellence is not part of project management though it is part of quality management.

8 0
3 years ago
) A company finds that consumer demand quantity changes with respect to price at a rate given by D'(p) = - 2000 p 2 . Find the d
Stells [14]

Answer:

D(p) = 2,000 ÷ Price + 434

Explanation:

The computation of the demand function is shown below:-

Number of units of the product = 3000 ÷ Price + C

834 = 2,000 ÷ $5 + C

834 = 400 + C

C = 834 - 400

C = 434

So, D(p) = 2,000 ÷ Price + 434

Therefore for computing the demand function we simply applied the above formula also we considered all the given information mentioned in the question

3 0
3 years ago
The aims of mercantilists do not include
fomenos

Answer:

B) achieving political and economic unity

Explanation:

The goals of mercantilism were to increase the wealth of the government (accumulate gold and silver) by controlling economic affairs, and ultimately increasing the power of the nation (both economic and military). You must remember that mercantilism was popular during the 17th and 18th century when democracy didn't exist, and the Kings and Queens were eager to increase their personal wealth, power and greatness.

4 0
3 years ago
LETS DEBATE AB ABORTION.
Anarel [89]
I’m pro choice but respect everyone’s opinion:)
3 0
3 years ago
Read 2 more answers
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