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Arte-miy333 [17]
3 years ago
8

During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts

reflected the following:
Asset Original Cost Residual Value Estimated Life Accumulated Depreciation (straight-line)
Machine A $55,000 $12,300 7 years $24,400 (4 years)
Machine B 15,800 2,700 5 years 7,860 (3 years)

The machines were disposed of in the following ways:

a. Machine A: Sold on January 2, for $35,100 cash.
b. Machine B: On January 2, this machine was sold to a salvage company at zero proceeds (and zero cost of removal).

Required:
Give the journal entries related to the disposal of Machine A and Machine B on January 2 of the current year.
Business
1 answer:
julsineya [31]3 years ago
7 0

Answer and Explanation:

The journal entries are shown below:

1) Journal entry

On Jan 2

No journal entry is required  

On Jan 2

Cash $35100  

Accumulated depreciation-Machine A $24400  

          To Gain on sale of machine A  4500

         To Machine A  55000

(Being the sale of machine A is recorded)  

2) Journal entry

On Jan 2

No journal entry is required  

On Jan 2  

Accumulated depreciation-Machine B 7860  

Loss on disposal of machine B 7940  

           To Machine B  15800

(Being disposal of machine B is recorded)  

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Which of the following events could decrease the cost of money? Check all that apply.
adelina 88 [10]

Answer:

In my opinion the correct answers are  items  A,D

Explanation

A , Because  if the inflation increases  it means that there are  high price to purchase goods ,that is why  people are afraid  to this high prices and it leads to reduce interest rates and savings.

D, Because  if there are low interest rates the price of  Treasuary securities are  more expensive.

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3 years ago
Darren and Nikki own a cabin in Mammoth, California. During the year, they rented it for 45 days for $9,000 and used it for 12 d
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Answer:

Total loss = 3,592.1053

Explanation:

Given:

Income from rent (For 45 days) = $9,000

Personal use = 12 days

Mortgage = $8,000

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Utilities = $1,200

Maintenance = $750

Depreciation = $4,000

Computation:

Total Allocated expenses = 45 days / 57 days [$8,000 + $2,000 + $1,200 + $750 + $4,000]

Total Allocated expenses = 45 / 57 [15,950]

Total Allocated expenses = $12,592.1053

Total loss = Total Allocated expenses - Income from rent

Total loss = $12,592.1053 - $9,000

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3 0
3 years ago
Assume Fiona is willing to pay $8 for a pizza cutter. Tim also wants one, but is only willing to pay $6 for one. At a pizza bake
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Answer

The question is incomplete; assuming that the market price is $5.

The answer will be consumer surplus decreases.

Explanation:

Consumer surplus is a measure of consumer welfare. It is measured as the difference between what customers are willing and able to pay for a good  and the price they actually pay.      

7 0
4 years ago
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Answer:

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Explanation:

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And, the actual fixed overhead is $4,200

So, the fixed overhead budget variance is

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A Marketing manager is chargeable for constructing and retaining a sturdy and regular emblem via a huge variety of online and offline advertising channels. The song examines the overall performance of advertising campaigns, controls the advertising, and makes certain that all advertising is consistent with brand identification.

Marketing Managers are chargeable for developing, implementing, and executing strategic advertising plans for a whole corporation (or lines of business and brands inside an employer) with the purpose to attract potential customers and keep existing ones.

Advertising managers normally want at least a bachelor's diploma. a few employers do not require precise training, however many pick an advertising or commercial enterprise diploma. era training and expertise in design and media manufacturing can also help candidates stand out. Managers normally need advertising and marketing revel in.

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