Answer:
Mercury Company
Sale of Equipment account:
Equipment $150,000
Acc. Depreciation 112,000
Book value $38,000
Cash received $38,000
Explanation:
a) Data and Calculations:
Equipment Account:
Beginning balance $750,000
Ending balance 600,000
Sale of equipment $150,000
Accumulated Depreciation - Equipment account:
Beginning balance $500,000
Depreciation expense 40,000
Ending balance 428,000
Sale of Equipment $112,000
b) The Cash received from the sale of Mercury Company's equipment is equal to the book value in Year 2 according to the question. Since the book value (value after accumulated depreciation) is $38,000, that means that the equipment was sold at $38,000 recording no profit or loss for the company on the sale.
Answer:
Microeconomics
Explanation:
Microeconomics relates to the interaction of a single market with different markets, and that such individual market tends to determine the price of a commodity in relation and interaction with different markets.
Here, in microeconomics we analyse and study the choices of an individual using various scarce resources for completing production, consumption and exchange.
Thus, correct answer is -
Microeconomics
Depending on the location if the house and how much you want to sell it for. Just make sure basic things such as Holes in wall’s are fixed or more noticeable details. Otherwise if the house is in good shape and appliances, heating, water are all fine then not a lot.
Answer: Option (A) is correct.
Explanation:
If there is a higher inflation rate in an economy and it is still rising because aggregate demand is rising at a faster rate than an aggregate supply.
So, there is a need to use contractionary fiscal policy. If the government increase taxes then as a result aggregate demand decreases. This is because of the fall in disposable income, with less income in hand consumers demand for the goods decreases.
Hence, this contractionary fiscal policy will help government to reduce inflation to some extent.