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2 years ago

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A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $40,000 cash. The amount of the loss relat

ed to the sale of this machine should be reported in the operating section under the indirect method is:

1 answer:

sladkih [1.3K]2 years ago

6 0

Answer: About $50,000

Explanation:

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Which descriptions offer examples of Distribution and Logistics workers? Check all that apply.

kirill115 [55]

Answer:

these are the answers:

Jesse (1)

Rosie (2)

Zelda (5)

Explanation:

on edge 2021

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2 years ago

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Marty's home had burned to the ground. When he met with his insurance adjuster, she accused him of burning down the house and sa

Phantasy [73]

Answer:

B) duress.

Explanation:

"Duress" refers to the exercise of unlawful pressure by one individual upon another in order to coerce such person to act in such a way which he ordinarily will not.

Duress and undue influence are two terms that appear synonymous but actually differ. Under the latter, the act of coercion is carried out by an individual who held something in trust for other. Under duress, there exists a threat to harm, which is not necessarily true in case of undue influence.

In the given case, after Marty's house was burnt, the insurance adjuster instead of approving her claim, rather accused him of burning the house and further threatened him with criminal prosecution, if the former did not agree to much lower claim.

In this case, Marty may rescind such previously agreed settlement on the grounds of duress wherein, the insurance adjuster coerced and threatened him for such settlement and forcibly changed his action with the motive of deriving personal gains.

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2 years ago

On May 1, 2020, Course Co. borrowed $16,000 and signed a three-year note bearing interest at 6% per annum. Interest is payable q

butalik [34]

The amount that Course Co. should report as a liability for accrued interest on its December 31, 2021 balance sheet is $240.

<h3>What is accrued interest?</h3>

Accrued interest is an accounting expression that shows a liability for interest payment has been incurred for a loan but the payment has not yet been made.

For Course Co., it incurs accrued interest of $240 every quarter for the three-year note payable. Usually, the accrued interest is paid at the beginning of the next quarter.

<h3>Data and Calculations:</h3>

3-year note payable = $16,000

Rate of interest = 6% per year

Date of loan = May 1, 2020

Interest payment = quarterly or 4 times annually

Interest per quarter = $240 ($16,000 x 6% x 1/4).

Thus, the accrued interest on Course Co.'s December 31, 2021 balance sheet is $240.

Learn more about accrued interest at brainly.com/question/1542335

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1 year ago

Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $181 in cash along with receipts for t

damaskus [11]

Answer:

Journal Entry for establishing a Petty cash fund

Date Particulars Debit Credit

Jan 1 Petty cash A/c $270

To Cash A/c $270

(Being Petty cash fund established)

Journal Entry for reimbursement of petty cash

Date Particulars Debit Credit

Jan 8 Postage A/c $36

Transportation A/c $13

Delivery Expense A/c $15

Miscellaneous Exp A/c $25

To Cash A/c $89

(Being reimbursement of petty cash expenses

incurred from petty cash fund)

Journal entry for Increasing the limit of Petty cash fund

Date Particulars Debit Credit

Jan 8 Petty Cash A/c $50

To Cash A/c $50

(Being Petty cash fund limit extended to $320 i.e., we have

to add $50 to existing fund in order to make it $ 320.)

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2 years ago

Brad is a sales representative for a Kettle Chips and is preparing for a Super Bowl promotional campaign. He's contacting each o

alexdok [17]

Answer:

point-of-purchase advertising.

Explanation:

In this scenario, Brad is contacting each of his grocery and convenience accounts with an opportunity to install an end-of-aisle display with graphics of the Super Bowl teams and a display of several varieties of chips.

Hence, this is known as point-of-purchase advertising, a type of trade-oriented promotion.

A point of purchase advertising can be defined as a marketing strategy used by retailers, which typically involves the placement of end user goods e.g graphics of the Super Bowl teams strategically placed in a supermarket aisle for retail customers.

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2 years ago