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Ipatiy [6.2K]
3 years ago
11

Marigold Corp. purchased machinery for $1232000 on January 1, 2017. Straight-line depreciation has been recorded based on a $860

00 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $21500. How much cash did Marigold receive from the sale of the machinery
Business
1 answer:
Elenna [48]3 years ago
4 0

Answer: $260,300

Explanation:

Depreciation per year was = (1,232,000 - 86,000) / 5

= $229,200

In 2021 May 1, 4 years and 4 months would have elapsed. Depreciation would be;

= 229,200  * 4.3333

= $993,200‬

Net book value on date of sale is;

= 1,232,000 - 993,200

= $238,800

If Gain of $21,500 was realized, cash price was;

= 238,800 + 21,500

= $260,300

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Some colleges charge all students the same “activity fee.” Suppose that students differ by how many campus activities they engag
MAXImum [283]

Answer: (d.) A lump-sum tax which violates the benefits principle.

Explanation:

Here the tax is an amount, i.e. it is lump-sum and it violates benefit principle because they are not taxed according to their willingness to pay.

Also a same fee is charged from all the students irrespective of their level of activity, i.e. a lump sum tax.

Therefore it is violating the benefits principle because the fee is independent of the campus activities. A student might be receiving greater benefits than the other in terms of higher campus activities but is paying the same fee.

6 0
3 years ago
Why is gossiping at the workplace unprofessional?
Amanda [17]
Gossiping at the workplace is unprofessional because it is passing rumors about other employes or other people maybe even your boss.
6 0
4 years ago
Read 2 more answers
The entry to record the amortization of a premium on bonds payable on an interest payment date would Group of answer choices a d
Afina-wow [57]

Answer:

a debit to interest expense and premium on bonds payable and a credit to cash

Explanation:

Based on the information given The Appropriate journal entry to record the AMORTIZATION OF A PREMIUM ON BONDS PAYABLE ON AN INTEREST PAYMENT DATE will include: a DEBIT TO INTEREST EXPENSE and PREMIUM ON BONDS PAYABLE and a CREDIT TO CASH

Debit Interest expense

Debit Premium on bonds payable

Credit cash

(To record the amortization of premium on bonds payable on an interest payment date)

3 0
3 years ago
The Lunch Counter is expanding and expects operating cash flows of $32,500 a year for seven years as a result. This expansion re
storchak [24]

Answer:

$109,688.89

Explanation:

According to the scenario, computation of given data are as follows,

Formula for Net present value are as follows,

NPV = -Investment in fixed asset - Net working Capital + Operating cashflow × ( 1 - (1+r)^{-n}) ÷ r + Net working capital ×(1+r)^{-n}

Where, r = rate of return

n = number of years

By putting the value, we get

NPV = -28,000 - 2,800 + 32,500 × ( 1 - (1+0.14)^{-7}) ÷ 0.14 + 2,800 × (1+0.14)^{-7}

By solving the above equation, we get

NPV = $109,688.89

8 0
3 years ago
41.
dsp73

a) ( 0.8509718, 0.8890282)

b) ( 0.7255, 0.7745)

Explanation:

(a)

Given that , a = 0.05, Z(0.025) =1.96 (from standard normal table)

So Margin of error = Z × sqrt(p × (1-p)/n) = 1.96 × sqrt(0.87 × (1-0.87) / 1200)

=0.01902816

So 95 % confidence interval is

p+/-E  

0.87+/-0.01902816  

( 0.8509718, 0.8890282)

(b)

Margin of error = 1.96 × sqrt (0.75 × (1-0.75) / 1200) = 0.0245

So 95% confidence interval is

p+/-E

0.75+/-0.0245

( 0.7255, 0.7745)

5 0
4 years ago
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