1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ikadub [295]
2 years ago
13

Richland Company has a calendar year reporting period. On July 1, 2020, Richland’s equipment, with an original cost of $29,000,

was sold to Quaker Corporation for $15,000. The January 1, 2020, balance in the Accumulated Depreciation account was $10,000. Depreciation for the first six months of 2020 was $2,000. The journal entry to record the transaction would include a
Business
1 answer:
saul85 [17]2 years ago
5 0

Answer and Explanation:

The journal entry would be

Cash Dr $15,000

Accumulated depreciation ($10,000 + $2,000) $12,000

Loss on disposal - Plant assets $2,000

             To equipment $29,000

(Being the sale of the equipment is recorded)

here the cash, accumulated depreciation and loss would be debited as it increased the assets and losses while on the other hand the equipment is credited as it decreased the assets

You might be interested in
Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 a
monitta

Answer:

B. 2.05 times

Explanation:

Asset turnover ratio is computed by dividing net sales by average total assets

Given the following information about Maple Corp. for the year ended December 31, 2017

Beginning total assets = $83,200

Ending total assets = $116,500

Average total assets = (83,200+116,500)/2

                                  = 199700 /2

                                  = $99,850

net sales = $204,550

Asset turnover ratio = net sales/average total assets

                                 = $204,550/$99,850

                                 = 2.05 times

6 0
3 years ago
What is the importance of physical distribution?
lbvjy [14]
Physical distribution helps in maintaining stable prices. Even customers expect price stability over a period of time. proper use of transportation and warehousing facilities can help in matching demand with supply and thus ensure stabilisation of price.
5 0
3 years ago
Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds have a ten-year term and pay interest semiannually on Ju
Ostrovityanka [42]

Answer:

6%

Explanation:

Given the following :

Amount of bond issued = $10,000,000

Cash paid = $300,000

Term of bond = 10years

Semiannual interest pay

The stated annual rate of interest on the bond can be calculated thus :

Rate of interest ;

Cash paid / Amount of bond issued

$300,000 / $10,000,000

= 0.03

0.03 * 100%

= 3% (semiannual interest)

Therefore, annual rate of interest :

Semiannual rate * 2

3% * 2 = 6%

4 0
3 years ago
In reviewing his company's operations, a risk manager noticed that all of the company's finished goods were stored in a single w
diamong [38]

Answer:risk control

Explanation:Risk control is a step in the hazard management process. It involves finding a way to neutralize or reduce an identified risk.

Risk control begins with a risk assessment to identify the presence and severity of workplace hazards. Employers must then implement the most effective controls available.

In order of effectiveness (from most effective to least), risk control methods include:

Elimination: removing the risk entirely

Substitution: swapping an item or work process for a safer one (for instance, switching to an industrial cleaner that poses fewer respiratory risks)

Engineering controls: modifications to the environment or equipment that poses the risk (such as installing mirrors in warehouses or machine guards on circular saws)

Administrative controls: modifications to the workflow or work process (for example, rotating employees through several different work tasks to prevent repetitive stress injuries)

Personal protective equipment: safety gear worn by the workers, such as hard hats, safety glasses, and chemical-resistant gloves

6 0
3 years ago
Real GDP per capita: cannot grow more rapidly than real GDP. cannot decrease if Real GDP increases. necessarily grows more rapid
katrin [286]

Answer:

Real GDP per capita can increase or decrease when Real GDP increases

Explanation:

Real GDP per capita is calculated by dividing Real GDP by the number of people in a country. Therefore:

  • If population increase more quickly than the increase in real GDP, then real GDP per capita would decrease.
  • If population decreases, stays the same or increases more slowly as Real GDP increases, then real GDP per capita would increase.
4 0
3 years ago
Other questions:
  • Next-generation enterprise suites use ________ and soa to link to systems of customers and suppliers.
    12·1 answer
  • Bricktown Exchange purchases a copyright for $50,000. The copyright has a remaining legal life of 25 years, but only an expected
    14·1 answer
  • A company is considering purchasing a machine for $21,000. The machine will generate income from operations of $2,000; annual ne
    14·1 answer
  • A pet shop owner had a parrot with a sign on its cage that said "Parrot repeats everything it hears". Davey bought the parrot an
    12·1 answer
  • If a physical count of inventory indicates that the Merchandise Inventory account is​ overstated, an adjusting entry is required
    14·1 answer
  • Experts say that the choice between a typed thank-you letter or handwritten thank-you letter is unimportant, as long as you send
    7·1 answer
  • Identify at least 4 Key Success Factors (KSFs) that companies competing in the activity tracking industry must master to be succ
    10·1 answer
  • Prompt: Write an informative essay that explains the qualities of a hero, and how to recognize heroes in your life.
    6·2 answers
  • IM GONNA CRY MY EYES OUT PLEASE HELP ME Type the correct answer in the box. Spell the words correctly.
    9·1 answer
  • What are some of the advantages of incorporating?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!