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Tomtit [17]
3 years ago
7

Q.1Alexander Company purchased a piece of equipment for $12,000 and depreciated it for three years over a five-year estimated li

fe with an expected residual value at the end of five years of $2,000. At the end of the third year, Alex decided to upgrade to equipment with increased capacity and sold the original piece of equipment for $7,200. Calculate the gain or loss on the disposal at the end of the third year.
Business
1 answer:
bekas [8.4K]3 years ago
3 0

Answer:

gain of $3,200

Explanation:

The equipment cost $12,000.

The depreciable amount = Cost price - salvage value

=$12,000 -$ 2,000

=$10,000

The equipment was being depreciated over five years. The depreciation rate will be

=1/5 x 10=0.2

=20%

Depreciation per year will be

=20/100 x $10,000

=0.2 x $10,000

=$2,000 per year

Depreciation for 3 years

=$2,000 x 3

=$6,000

The book value of the equipment after three years will be

=cost price - accumulated depreciation

=$10,000 - $6,000

=$4,000

The equipment was sold for $7,200

the gains will be selling price - book value

=$7,200 - $4,000

=$3,200

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Answer:

C. subtracting the competitive level producer surplus from the producer surplus associated with less output

Explanation:

A deadweight loss refers to a cost to society created as a result of market inefficiency. Market inefficiency occurs when supply and demand are out of equilibrium. It is also known as excess burden.

Deadweight loss is also created due to taxes as they prevent people from purchasing things that they would otherwise as the final price of the product increases.

The deadweight loss associated with output less than the competitive level can be determined by subtracting the competitive level producer surplus from the producer surplus associated with less output

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2 years ago
When a tax is levied on the buyers of a good, the A. buyers of the good will send tax payments to the government. B. supply curv
makkiz [27]

Answer:

When a tax is levied on the buyers of a good, the <u>demand curve shifts downward (or to the left). The quantity demanded will decrease at every price level.</u>

Explanation:

When a tax is levied on the sellers of a good, the supply curve shifts to the left, reducing the quantity supplied at every price level.

When a tax is levied on a good, the buyers and sellers of the good share the burden,  regardless of how the tax is levied since it increases the price that buyers effectively pay and decreases the price that sellers effectively receive. Taxes decrease the equilibrium quantity of the good.

8 0
3 years ago
refer to the accompanying national income data (in billions of dollars). the gross domestic product for this economy is
jeka94

Answer: $623 billion

Explanation:

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It can be calculated by several approaches with one of them being the Expenditure approach.

The formula is:

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4 0
3 years ago
In custom reports, what must metrics and dimensions share in order to report accurately?.
romanna [79]

Answer: The Same Scope!

Explanation

3 0
2 years ago
Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72
vlada-n [284]

Answer:

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Explanation:

Working capital is the funds made available for day to day operation of a business.

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working capital=$170,000-$57,000=$113,000

4 0
2 years ago
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