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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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It costs Rockport Shrimp Fisheries, Inc. $30 to catch, process, freeze, package and ship 5-pound packages of gulf shrimp. Assume
Anit [1.1K]

Answer:

=$48

Explanation:

Mark-up refers to the intended profit margin: It is selling price -cost of production.

For  Rockport Fisheries:  cost of production is $ 30

Mark -up is 60 %. i.e., profit margin equal to 60 % of cost price

Selling price= cost +mark up

  = $30 + (60/100 x100)

  =$30+$18

  =$48

4 0
3 years ago
The four step instructional training method introduced in World War I used the following steps​
Pani-rosa [81]

<u>Answer:</u>

<em>The four-step methods used the steps of the show, tell, do, and check  </em>

<em></em>

<u>Explanation:</u>

Job instruction training JIT is an orderly, quick, and viable strategy for showing your workers to carry out a responsibility accurately and securely. This strategy for preparing laborers through a straightforward breakdown of steps is honest and complete. By giving such preparing to your laborers, you could reduce the risk of damage or pass to a specialist, avert expensive hardware fixes, or keep away from lost work time.

When wanting to lead JIT, you should pick a powerful coach, recognize a fitting area and time for the preparation, and figure out what data to pass on to the laborers.

7 0
3 years ago
Burke tires just paid a dividend of $2.42. analysts expect the company's dividend to grow by 30% this year, 20% next year (year
Ivanshal [37]

Answer:

There is no correct answer is these options. But the correct answer is $113.41

Explanation:

The formula to solve this is:

Po = D1/r - g

Po is the Current price of the common stock

D1 is the future dividend payment

r is the rate of return

g is the growth rate.

This is quite different from the usual(single stage). This is Two-stage Dividend Discount Model. To solve this;

D1(Dividend in year 1) is $3.15( $2.42 x 1.3)

D2(Dividend in year 2) is $3.78(3.15 x 1.2)

D3(Dividend in year 3) is $4.15($3.78 x 1.1)

D in subsequent years is $4.36(4.15 x 1.05)

P3(price of stock in year 3) = $4.36/0.083 - 0.05

=$132.12

Now the stock's current market value is

$3.15/1.08 + $3.78/1.08^2 + $4.15/1.08^3 + $132.12^3

The price of the stock is $113.41

4 0
3 years ago
The understatement of the ending inventory balance causes:
Nina [5.8K]

Answer: The correct answer is "E. Cost of goods sold to be overstated and net income to be understated.".

Explanation: The understatement of the ending inventory balance causes:  

<u>Cost of goods sold to be overstated and net income to be understated.</u>

8 0
3 years ago
9. Emil Motycka is considered an entrepreneur because
Nataliya [291]

Answer:

he started and managed a business.

Explanation:

Entrepreneur is the person who is willing to take risk by putting his capital to create and operates business.

Emily Motycka gained his fame because he started and managed a business at 13. He created Motycka Enterprises  , a company that offers lawn mowing services to the suburban houses.

By the time he entered high school, he already earned  a 6 figure income, while most people only able to get that type of earning in their 30s.

6 0
3 years ago
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