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Karolina [17]
3 years ago
11

A fixed asset with a cost of $31,588 and accumulated depreciation of $28,429.20 is sold for $5369.96. What is the amount of gain

or loss on disposal of the fixed asset
Business
1 answer:
Artist 52 [7]3 years ago
4 0

Answer:

$2,238.16

Explanation:

In the disposal of assets, gain or loss will be a comparison between the book value and the selling price.

Book value is the asset costs minus accumulated depreciation.

in this case, the book value will be

= Asset cost - Depreciation

= $31,588- $28,429.20

=$3,158.8 is the book value.

Gain or loss = selling price- book value

=$5,369.96 - $3,158.8

=$2,238.16

A gain of$2,238.16 will be gain from that sale.

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Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required i
dimulka [17.4K]

Answer:

16.7%

Explanation:

The simple rate of return is the annual net income divided by the initial investment in the proposed investment project.

The annual net income is the annual cash flow of $8,400 minus annual depreciation charge.

annual depreciation=cost -salvage value/useful life=($36,000-$0)/15=$2400

annual net income=$8,400-$2,400=$6000

simple rate of return =annual net income/initial investment

initial investment is $36,000

simple rate of return=$6,000/$36,000=16.7%

The second option,16,7% is the correct answer

8 0
4 years ago
When an advertiser seeks to create demand for a product category in general, this is known as
Vinil7 [7]

Answer:

The correct answer to the following question is B) primary demand stimulation.

Explanation:

Primary demand stimulation can be defined as such advertising messages, whose main objective is to promote the benefits of a product or product category, rather than promoting a whole brand. The main purpose of making such advertisement is to influence the buying decisions of consumers by telling them about the benefits of product and also in situation when a new product has been launched or technological up gradation has been made.

8 0
3 years ago
ken and sue are purchasing a home but are short on the down payment required by their lender. sue's mother offered to give them
aleksandrvk [35]

She is permitted, according to the applicable tax legislation, to donate $30 000.

This is further explained below.

<h3>How much can Sue's mother give under current tax laws?</h3>

In most cases, Sue's mother is able to pay Ken the first fifteen thousand dollars and then proceed to give Sue the remaining fifteen thousand dollars. Because Sue's mother gave this to her, there will be no tax placed on it because it is considered a gift.

The act or process of passing tax laws, as well as the body of laws that allow for the levying of taxes and the administration of taxes, are together referred to as tax legislation.

Any object or document that is verifiable and that is frequently accepted as payment for goods and services as well as the repayment of obligations, such as taxes, in a given nation or socio-economic setting is considered to be money in that nation.

In conclusion, Sue's mother and father could give Ken and Sue a gift of $15,000 each, bringing the total amount of money they give to each of them to a grand total of $60,000 each.

Read more about tax laws

brainly.com/question/802511

#SPJ1

5 0
2 years ago
All of the following are fees typically charged by credit card companies EXCEPT:
lubasha [3.4K]
B) Balance Transfer fee

5 0
4 years ago
Read 2 more answers
You observe that the inflation rate in the United States is 1.5 percent per year and that T-bills currently yield 2.0 percent an
Kamila [148]

Answer:

(a) 7.5%

(b) 8.5%

(c) 9.5%

Explanation:

(a) Foreign country inflation rate - US inflation rate = Foreign country risk free rate - US risk free rate

Lets foreign country inflation rate = X

X - 1.5 = 8 - 2

X - 1.5 = 6

X = 6 + 1.5

   = 7.5%

(b)

Lets foreign country infllation rate = X

X - 1.5 = 9 - 2

X - 1.5 = 7

X = 7 + 1.5

   = 8.5%

(c)

Lets foreign country inflation rate = X

X - 1.5 = 10 - 2

X - 1.5 = 8

X = 7 + 1.5

   = 9.5%

6 0
3 years ago
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