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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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The Clifford Corporation has announced a rights offer to raise $10 million for a new journal, the Journal of Financial Excess. T
kkurt [141]

Answer and Explanation:

1. The maximum possible subscription price is $60

The maximum price is anything greater than $0

2.Number of new shares

$10,000,000/$50

=$200,000

Number of right shares

$1,000,000/$200,000

=$5

3. Excess right 58.33

(5*60+50)/(5+1)

Value of excess 1.67

($60-58.33)

4.Portfolio value before right offering

2,000×60

= 120,000

Portfolio value after right offering 120,000

(2000×58.33 +2000×1.67 )

8 0
3 years ago
Both examples below illustrate which element of the assertive message format? example 1: "yesterday, kristopher promised me he w
anzhelika [568]
<span>Both of these examples are illustrative of the "behavior" element of the assertive message format. These example are objective in that they only outlined what happened in a given situation. Although the second may appear to have an emotional connotation, it simply gives an objective impression of what happened.</span>
8 0
3 years ago
Which best ranks Agriculture, Food, and Natural Resources careers from highest to lowest required degree? Veterinarian → Nursery
pshichka [43]

Answer

Food is what we get from agriculture.

To rank the given option from the highest to lowest degree of importance, we need to do a little research on the each of the individual subjects.

these can be arranged in the following order.

(1) Food

(2) agriculture

(3) natural resources careers.

5 0
3 years ago
Read 2 more answers
Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor superv
Ivenika [448]

Answer:Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends. In the end, he decides to take the promotion. Ricardo's opportunity cost is choosing the promotion over time with his friends.

<u>Explanation:</u>

When there are many options in front of us.Out of these options when we select one we have to forgo the other options. While we forgo other options we have to bear the loss. So the opportunity cost is the cost of the next best option that we have given up.

if Ricardo works extra hours than he will not get time to spend with his friends so this is his loss which is arising due to the benefit he is getting from promotion. This loss will be his opportunity cost.

8 0
3 years ago
The required volume of output to produce the motors will not require any incremental fixed overhead. Incremental variable overhe
Ludmilka [50]

Answer: Income will increase by $16 per unit

Explanation:

Your question isn't complete but the completed question was gotten online and would be used in answering the question accordingly.

The effect on income if Derby decides to make the motors will be calculated thus:

In-house:

Direct material = 38

Direct labor = 50

Overhead (Incremental) = 21

Total variable cost = 109

Outside:

Cost of supply = 125

Therefore, the income per unit will increase by (125 - 109) = 16.

3 0
3 years ago
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