Answer:
$5,000.
Explanation:
To calculate the gain or loss on sale of Property, Plant, and Equipment, the worth of the asset at selling time that is its Carrying Value (Cost - Accumulated Depreciation) is compared with the Sale Proceeds.
⇒ Gain / (Loss) = 55,000 - (310,000 - 260,000) = $5,000.
Strike Company has sold an equipment worth of $50,000 for $55,000, hence making a gain of $5,000 on this transaction. This gain is recorded in the Statement of Profit or Loss.
Answer:
Journal entry
Explanation:
The journal entry to record the depreciation expense is shown below:
Depreciation Expense A/c Dr $7,800
To Accumulated Depreciation - Equipment A/c $7,800
(Being depreciation expense is recorded)
The computation is shown below:
= ($90,000 - $12,000) ÷ 5 years × 6 months ÷ 12 months
= $7,800
The six months is calculated from July 1, 2019 to December 31, 2019
Answer:
the new terms will be valid
Explanation:
In the given question the result will be that the new terms will be valid.
This is due to the fact that Under the Uniform Commercial Code (UCC), the oral modifications are binding.
Here both the terms i.e the first term of providing the additional 100 bottles of lemonade for $115 on May 1 and selling 100 bottles of iced tea for $115 are made in oral
Answer:
Actor: Firm, individual, nation, or other participant in the economy. Opportunity Cost: The benefit that would have been received by taking the next best.
Explanation:
