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
ivann1987 [24]
3 years ago
6

Which of the following relationships between book value and cash received at sale results in a loss on the sale of a long-term d

epreciable asset?
a. Book value is greater than cash received.
b. The determination of a gain or loss does not involve the book value.
c. Book value is less than cash received.
d. Book value is equal to cash received.
Business
1 answer:
creativ13 [48]3 years ago
8 0

Answer:

a. Book value is greater than cash received.

Explanation:

Book value of an asset is the cost of an asset less accumulated depreciation

Cash received is the price the asset is sold for.

If the asset is sold for less than its book value, it is sold at a loss

If an asset is sold for more than its book value, it is sold at a gain

You might be interested in
Prepare adjusting journal entries, as needed, for the following items. (If no entry is required for a transaction/event, select
Wewaii [24]

Answer:

Explanation:

The adjusting entries are shown below:

1. Supplies expense A/c Dr $370

       To supplies A/c                          $370

(Being supplies account is adjusted)

The supplies expense is computed by

= Supplies balance - supplies on hand

= $570 - $200

= $370

2. Insurance expense A/c Dr $190

         To Prepaid Insurance                  $190

(Being prepaid insurance is adjusted)

3. Salaries expense A/c $1,280

          To Salaries payable A/c        $1,280

(Being salary is adjusted)

The salaries expense is computed by

= Total five days × number of days ÷ total number of days

= $3,200 × (2 ÷ 5)

= $1,280

4. Electricity expense A/c Dr $270

       To electricity payable A/c          $270

(Being electricity usage is adjusted)

7 0
3 years ago
What is Average cost
Vladimir79 [104]
Arvrage cost is the total cost divided by the number of units.
5 0
3 years ago
Hachi is working against a deadline. she must have a term paper written by 8
rewona [7]
<span>Hachi is working against a deadline. she must have a term paper written by 8
a.m. tomorrow. the deadline is an example of a ________. Stress

</span>
6 0
3 years ago
Franklin, John, Henry, and Harry have decided to pool their financial resources and business skills in order to open up and run
Finger [1]

Answer:

Their business should be classified as a  Partnership.

Explanation:

The three major types of businesses are Sole Proprietorship, Partnership & Corporation. Sole Proprietorship has only one member and corporations have shared ownership and big in size. Partnerships are businesses in which a small number of people decide to pool in and start a business and are personally liable for any business debts. In this case the coffee shop opened by Franklin, John, Henry, and Harry would be classified as a Partnership.

Partnerships have a limited life and it will dissolve if any of Franklin, John, Henry, and Harry decide to leave the partnership unless stated otherwise in the charter of the partnership.

7 0
3 years ago
Stickel Company has the following sales​ budget: Month Cash Sales Credit Sales September ​$100,000 ​$200,000 October ​125,000 ​1
NISA [10]

Answer:

$182300

Explanation:

$182300

September credit sales  account for 40% of October accounts receivable since it will be paid one month following sales

October credit sales will account for 50% of account receivable since it is paid in the month of sale

the calculation has been done in the attachment for further explanation

     

Download docx
7 0
3 years ago
Other questions:
  • You auscultate the abdomen of a five year old gelding. what are you evaluating
    14·1 answer
  • Stocks and bonds a. and checking accounts all commonly function as mediums of exchange, but only stocks and bonds are a store of
    7·1 answer
  • A useful economic model a. deals only with possibilities that actually occurred. b. will avoid conclusions that have public poli
    14·1 answer
  • The Fox Company uses the weighted average method. The beginning work in process consists of 20,000 units (100% complete as to ma
    13·1 answer
  • Susanna strongly believes in the relationship between workplace communication and employee productivity, and she agrees with Ale
    7·1 answer
  • Kamal reproduces Lorena’s copyrighted work "Musica" without paying royalties. Kamal is most likely excepted from liability for c
    12·1 answer
  • 3. A trader has a short position of 10 contracts in a crude oil futures contract. Yesterday’s closing price was $55.30/barrel. T
    11·1 answer
  • Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its m
    10·1 answer
  • Suppose that Cambodia becomes the next popular tourist destination. You notice that hotels, restaurants, and other services cost
    7·1 answer
  • Please answer the following questions: 1) Do goods that have secondary packaging influence your purchasing decisions? Why/why no
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!