Can someone help it’s for a quiz

On May 1, 2015, Pinkley Company sells office furniture for $300,000 cash. The office furniture originally cost $750,000 when pur

Savatey [412]

Answer:

$45,000

Explanation:

Data provided in the question:

Selling cost of the furniture on May 1, 2015 = $300,000

Original cost of the machine on January 1, 2008 = $750,000

Depreciable Life of the furniture = 10 years

Salvage value = $75,000

Now,

Annual depreciation = $\frac{\textup{Purchasing cost - salvage value}}{\textup{life}}$

or

Annual depreciation = $\frac{\textup{750,000 - 75,000}}{\textup{10}}$

or

Annual depreciation = $67,500 per year

The total duration from the date of purchase to date of selling

= 7 years 4 months

or

= 7 × 12 + 4 months

= 88 months

= $\frac{88}{12}$ years

therefore,

The total accumulated depreciation till the date of sale

= Annual depreciation × Duration

= $67,500 × $\frac{88}{12}$

= $495,000

Thus,

The book value on May 1, 2015

= Purchasing cost - Accumulated depreciation

= $750,000 - $495,000

= $255,000

Hence,

The gain recognized = Selling cost - Book value

= $300,000 - $255,000

= $45,000

8 0

4 years ago

Consider each person's situation to determine who would be counted among the "unemployed."Laura works 20 hours in a paid positio

kvv77 [185]

Answer:

The correct answer is letter "A": Erik.

Explanation:

Unemployment occurs when a person actively looking for work can not find a job. The most frequently cited indicator of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of employees in the labor force.

Thus, Erik can be considered unemployed since he is volunteering at school, meaning he is not earning any compensation for that, and he is actively looking for a job even if he has not been able to find one yet.

8 0

3 years ago

In this market, the equilibrium hourly wage is $ , and the equilibrium quantity of labor is thousand workers. Suppose a senator

olga2289 [7]

Answer:

The equilibrium hourly wage is the wage where the curve of supply of labor intersects with that of the demand for labor. The same goes for the equilibrium quantity of labor.

The equilibrium hourly wage is $10, and the equilibrium quantity of labor is 450 thousand workers.

If a Senator introduces a minimum hourly wage, this is considered a Price Floor. 

Price floors are prices that that the government mandates that one cannot charge below for a good or service. If there is a price floor on cake for instance, a person is not allowed to charge less than that price floor for cake. The Senator's bill is therefore saying that people should not be paid less than $6 an hour.