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
34kurt
3 years ago
5

Last year Ace charged $3,144,667 Depreciation on the Income Statement of Andrews. If Ace sold a fully depreciated piece of equip

ment at a loss, the effect on Andrews's financial statements would be (all other items remaining equal) _______.
Select: 1
O Decrease Net Cash from operations on the Cash Flow Statement
O Increase Net Cash from operations
O No impact on Net Cash from operations
O Just impact the Balance Sheet
Business
2 answers:
tatiyna3 years ago
5 0

Answer:

Just impact the balance sheet

Explanation:

The amount to be recorded in the statement of cash flow relating to the disposal is the actual cash collected,at any rate,the cash received would be an additional inflow in the year,hence it is an increase in cash flow.

The impact of the above transaction would neither increase nor decrease the cash flow from operations since disposal of non-current asset is an investing activity item and no depreciation is charged in the current year

The correct option is just impact impact the balance sheet by crediting equipment account and debiting  accumulated depreciation  as well as debiting loss on disposal

zmey [24]3 years ago
5 0

Answer:

Just impact the Balance Sheet

Explanation:

I'm not sure how can you sell something at a loss when its value is $0. Did you pay someone to take the asset? Once the asset has been fully depreciated, its value is $0, the company cannot assign any more expenses to it, it cannot be worth -$anything.

It definitely will not have any impact on the income statement, nor cash flows, since obviously if you had sold the asset (worth $0) for $1 at least, you should report a gain.

I'm not sure exactly how this can happen, but if the company accepted a liability in exchange for someone taking the asset away. It is the only way you can sell something for a negative price. Since liabilities would increase, the accumulated depreciation should be reversed to balance the equation. So the balance sheet might be affected in a weird way.

You might be interested in
Laura's boss, Erik, constantly uses sexually explicit language while communicating with his female subordinates. Though many fem
Fittoniya [83]

Answer:

I shouldn't believe or think this will be viewed as offensive conduct because he doesn't threaten any lady throughout particular. A further explanation is given below.

Explanation:

  • Complaining about discrimination based on private orientation as either a misconduct action throughout Title VII of the 1964 civil rights legislation including 29 C.F.R. including its Federal EEO Action Process Portion 1614.
  • Instead of repeatedly being told by the organization that the allegations of private identity are usually processed within sections 1614 unless specifically requested by the complainant to use a different litigation procedure.
3 0
3 years ago
Which of the following statements about the Federal Application for Student Aid (FAFSA) is TRUE? AYou can only apply online. BTh
beks73 [17]
C. the irs data retrieval tool allows to view and transfer your tax information directly into your FAFSA form













































5 0
3 years ago
Read 2 more answers
A company planned to sell 100 canoes for the month of April at an average sales price of $600. Midway through the month, the com
andreyandreev [35.5K]

Answer:

flexible budget amount for canoe sales revenue for April is $72000

Explanation:

given data

sell =  100 canoes

average sales price = $600

sold = 65

total sales = 130

canoes at an average price = $595

actual sales = 120 canoes

to find out

flexible budget amount for canoe sales revenue for April

solution

we know here for flexible budget april sale unit are = 120

and selling price is $600

so that April sales will be here = 120 × 600

April sales = 72000

so flexible budget amount for canoe sales revenue for April is $72000

3 0
3 years ago
Which spreadsheet type will determine how well a business has done over the past year?
Scilla [17]
A profit and loss statement<span> will determine how well a business has done over the past year.The profit and loss statement is a financial statement which shows revenue, costs and all expenses that happened during a said period of time. Most companies do this quarterly or yearly. </span>
8 0
3 years ago
Read 2 more answers
The Mary Company primarily sells dishes, and recently purchased a cardboard box company. Mary's new cardboard box division has n
fgiga [73]

Answer: $1.50

Explanation:

Based on the information given in the question, we are informed that the variable cost of each box is $1.50 and usually has a contribution margin of $0.80 per box.

We should note that the minimum transfer price that the box division should find as acceptable will be the relevant cost. In this case, the relevant cost is given as $1.50 pee box and therefore, the minimum transfer price will be $1.50.

8 0
3 years ago
Other questions:
  • Describe the Allowance for Doubtful Accounts, account:1. What type of account is it? Contra Asset Account 2. What it’s normal ba
    9·1 answer
  • Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two h
    14·2 answers
  • Osion Electronics Inc. incurs a cost of $350 to produce one unit of a cell phone. The company's management has priced the produc
    12·1 answer
  • A paper mill releases chemicals into a river. There is one town downstream that uses the water. For every unit of chemicals rele
    8·1 answer
  • Javier left his home country to become a gardener for a family in a suburb of San Francisco, California. One of the benefits of
    11·1 answer
  • S&amp;L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2021, S&amp;L purchased C
    6·1 answer
  • Michael has written an e-mail to his employees that describes a new product special that will be introduced to the
    6·2 answers
  • Coca-Cola sells two zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke
    14·1 answer
  • Experienced project managers understand the value of having team members ________ the project as opposed to appointing team memb
    14·1 answer
  • A monopolist finds that a person’s demand for its product depends on the person’s age. The inverse demand function of someone of
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!