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Anit [1.1K]
3 years ago
15

On December 31, Strike Company traded in one of its batting cages for another one that has a cost of $500,000. Strike receives a

trade-in allowance of $11,000. The old equipment had an initial cost of $215,000 and has accumulated depreciation of $185,000. Depreciation has been recorded up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss on this transaction
Business
1 answer:
photoshop1234 [79]3 years ago
4 0

Answer:

the amount of loss is $19,000

Explanation:

The computation of the amount of the gain or loss is shown below:

Old equipment cost is

= Initial cost of the equipment - accumulated depreciation

= $215,000 - $185,000

= $30,000

Now the gain or loss is

= Book value of an equipment - trade in allowance

= $30,000 - $11,000

= $19,000

hence, the amount of loss is $19,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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Your seller wants to net $100,000 after the 5ommission is paid. assuming no closing costs, at what price does the home need to s
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$105,263.16

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2 years ago
Dobles Corporation has provided the following data from its activity-based costing system: Activity Cost Pools Estimated Overhea
Sati [7]

Answer:

Dobles Corporation

The unit product cost of product D28K is:

$144.01

Explanation:

a) Data and Calculations:

Activity Cost Pools    Estimated Overhead Cost   Expected Activity

Assembly                     $228,060                            18,000 machine hours

Processing orders         $34,068                              1,200 orders

Inspection                    $125,560                               1,720 inspection hours

Units of D28K produced per year = 420 units

D28K requirements:

Machine hours     460

Orders                    80

Inspections             10

Direct materials cost per unit = $48.96

Direct labor cost per unit = $25.36

Activity rate:

Assembly                     $228,060/18,000 = $12.67 per machine hour

Processing orders         $34,068/1,200 = $28.39 per order

Inspection                    $125,560/1,720 = $73 per inspection-hour

Cost of D28K:

Machine hours     460 * $12.67 =   $5,828

Orders                    80 * $28.39 = $22,712

Inspections             10 * $73 =           $730

Total overhead costs =                $29,270

Overhead cost per unit = $69.69 ($29,270/420)

Unit Cost of D28K:

Direct materials cost per unit = $48.96

Direct labor cost per unit =        $25.36

Overhead cost per unit =          $69,69

Total unit cost =                         $144.01

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