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vagabundo [1.1K]
3 years ago
9

Tim's Taxi Service sold one of its cabs for $9,000. The cab had an original cost of $23,000 with $16,000 in accumulated deprecia

tion. Assuming this is the only asset sold during the year, what is the recognized gain or loss and character of the gain or loss on this sale
Business
1 answer:
natta225 [31]3 years ago
6 0

Answer:

The recognized gain is $2000

Explanation:

The carrying value of the cab sold is the difference between the original cost of $23,000 and the accumulated depreciation of $16,000, hence, carrying value is $7000($23000-$16,000)

The cash proceeds from the disposal of then cab are $9000

Gain on disposal of cab=$9000-$7000

Gain on disposal of cab=$2000

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Deferral adjustments are needed when the business:
prisoha [69]

Answer:

The correct answers are the options B and D: Pays cash before the expense has been incurred. And receives cash before the revenue has been generated.

Explanation:

To begin with, in the accounting field the term of "Deferral Adjustments" refers to those that the accountant does when they postpone the report of it in the income statement until a later period, so that means that when an event happens they might decide to postpone the report of that particular transaction doing what it is called "defer". Moreover, the two most common cases when the accountants use this technique are the ones choosen from the options, the cases B and D.

6 0
3 years ago
Different tools and materials needed in <br> building beddings​
Anika [276]

Answer:

I didn't know

Explanation:

I am. so sorry

5 0
3 years ago
Rise Against Corporation is comparing two different capital structures: an all equity plan (Plan A) and a levered plan (Plan B).
Thepotemich [5.8K]

Answer:

a. Plan A

b. Plan B

c. $638,400

Explanation:

The formula to compute the earning per share is shown below:

Earning per share = (Net income - interest) ÷ (Number of shares)

a. For Plan A

EPS = ($500,000) ÷ (210,000 shares) = $2.38

For Plan B

EPS = ($500,000 - $182,400) ÷ (150,000 shares) = $2.12

The interest is computed below:

= $2.28 million × 8%

= $182,400)

Plan A has higher EPS

b. For Plan A

EPS = ($750,000) ÷ (210,000 shares) = $3.57

For Plan B

EPS = ($750,000 - $182,400) ÷ (150,000 shares) = $3.78

The interest is computed below:

= $2.28 million × 8%

= $182,400)

Plan B has higher EPS

c. Break-even EBIT

(EBIT) ÷ (Number of shares) = (EBIT - Interest) ÷ Number of shares

(EBIT) ÷ (210,000) = (EBIT - $182,400) ÷$150,000

After solving this,

The EBIT would be $638,400

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3 years ago
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Mamont248 [21]
I believe the answer is FFA.
Hope this helps.
(Please mark this brainliest, I would really appreciate it) Thanks!
6 0
3 years ago
Read 2 more answers
a publisher has orders for 600 copies of a certain text from san francisco and 400 copies from sacramento. the company has 700 c
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The publisher wants to fill both orders at <u>the least cost is $4600</u>

<u></u>

<h3>What is publisher?</h3>

Publishers are establishing a more significant position in the customer journey as customers utilize media content to discover and explore products and brands online. Publishers are implementing ecommerce strategies that place them in a position where they can work with retailers and brands to increase conversions. And marketers are realizing the value of publisher alliances as a method to shorten the funnel.

mostly through affiliate commerce agreements with companies and retailers. However, brand-new content techniques and use cases are appearing, such as those provided by affiliate-driven online marketplaces and social commerce.

mostly through affiliate commerce agreements with companies and retailers. However, brand-new content techniques and use cases are appearing, such as those provided by affiliate-driven online marketplaces and social commerce.

Learn more about Publishers

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