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Citrus2011 [14]
2 years ago
10

A. Explain why utilitarians might argue that both justice and well-being are intrinsically valuable.

Business
1 answer:
Nataly [62]2 years ago
7 0

Answer:

Utilitarianism's primary weakness has to do with justice. Utilitarianism seems to require punishing the innocent in certain circumstances, such as these. It is wrong to punish an innocent person, because it violates his rights and is unjust. But for the utilitarian, all that matters is the net gain of happiness.

Explanation:

As a theory of justice, utilitarianism holds that all human actions (as well as those of a state) are virtuous, moral, and just when they contribute to achieving general happiness. Hence, actions are judged based on their consequences. Actions detrimental to general happiness are considered unjust.

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A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain
Maksim231197 [3]

The amount of the gain or loss on disposal of the fixed asset is $2,000.

<h3>Gain or loss on disposal </h3>

First step

Book Value = Original Cost of Equipment - Accumulated Depreciation

Book Value = $30,000 -$28,500

Book value= $1,500

Second step

Gain=Sale Price -Book Value

Gain=$3,500-$1,500

Gain=$2,000

Inconclusion the amount of the gain or loss on disposal of the fixed asset is $2,000.

Learn more about gain or loss on disposal of asset here:brainly.com/question/14542603

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2 years ago
The practice of creating a liability when a company incurs an expense that cannot be directly linked to a specific accounting pe
m_a_m_a [10]

The practice of creating a liability when a company incurs an expense that cannot be directly linked to a specific accounting period most likely refers to companies may recognize such expenses in periods during which profits are high, as they can afford to take the hit to income, with a view to reducing the liability (the reserve) in future periods during which the company may struggle.

A liability is something that an individual or company owes, usually a monetary amount. Liabilities are settled over time by the transfer of economic benefits, including money, goods, or services.

Current liabilities are short-term financial obligations of a company that matures within one year or within the normal business cycle. The operating cycle, also known as the cash conversion cycle, is the time it takes a company to purchase inventory and convert sales into cash.

In general, mitigating the risk of legal liability requires acting lawfully and taking clear responsibility for the well-being of others (groups that include customers or clients, competitors, and the general public).

Learn more about  Liability here brainly.com/question/25687338

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8 0
1 year ago
Budgeting is much more difficult for an established business than it is for a new business.
dimulka [17.4K]
Answer: Your answer is true! C:
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2 years ago
A worker received $5 for a daily wage in 1930, which has the equivalent value of $63.24 today. if the cpi was 17 in 1930 what is
Katyanochek1 [597]
17 which should equal 215.01 I think- sorry if I’m wrong
6 0
2 years ago
Onslow Co. purchases a used machine for $192.000 cash on January 2 and readies it for use the next day at a $10,000 cost. On Jan
natita [175]

Answer:

a. Debit Other income/disposal account (p/l)   $204,000

   Credit Asset account  $204,000

Being entries to derecognize cost of  asset on disposal

   Debit Accumulated depreciation account  $150,800

   Credit Other income/disposal account (p/l)  $150,800

Being entries to derecognize the accumulated depreciation of asset as at date of disposal

   Debit Cash account  $21,000

   Credit Other income/disposal account (p/l)  $21,000

Being entries to record amount received on disposal of asset

b. Debit Other income/disposal account (p/l)   $204,000

   Credit Asset account  $204,000

Being entries to derecognize cost of  asset on disposal

   Debit Accumulated depreciation account  $150,800

   Credit Other income/disposal account (p/l)  $150,800

Being entries to derecognize the accumulated depreciation of asset as at date of disposal

   Debit Cash account  $84,000

   Credit Other income/disposal account (p/l)   $84,000

c. Debit Other income/disposal account (p/l)   $204,000

   Credit Asset account  $204,000

   Debit Accumulated depreciation account   $150,800

   Credit Other income/disposal account (p/l)   $150,800

Being entries to derecognize the accumulated depreciation of asset as at date of destruction of machine by fire

   Debit Cash account   $31,500

   Credit Other income/disposal account (p/l)   $31,500

Being entries received on the insurance settlement

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal. The proceed from the disposal of an asset may be recorded in the disposal or other income account.

On disposal, the carrying amount of the asset is derecognized by  

Debit Other income/disposal account (p/l)

Credit Asset account  

with the cost of the asset, then,

Debit Accumulated depreciation account

Credit Other income/disposal account (p/l)

With the accumulated depreciation of the asset at the date of disposal,

Furthermore,

Debit Cash account

Credit Other income/disposal account (p/l)

with the amount received from the disposal or sale of the asset

Total cost = $192000 + $10000 + $2000

= $204,000

Depreciation

= ($192000 + $10000 + $2000 - $23040)/6

= $30,160

Accumulated depreciation at the end of its fifth year

= 5 * $30,160

= $150,800

3 0
2 years ago
Read 2 more answers
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