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
Ipatiy [6.2K]
3 years ago
13

On December 31, 2020, Plattsville Plastics recently decided to dispose of an extrusion machine. The original cost was $461,000 a

nd accumulated depreciation was $310,566. On December 31, 2020, the fair value of the machine was determined to be $111,000. On December 31, 2021, the fair value of the machine was determined to be $167,000. Which of the following would be included in a related adjusting entry on December 31, 2021?
A) credit Gain on Machine Held for Disposal for $167,000
B) credit Gain on Machine Held for Disposal for $56,000
C) credit Gain on Machine Held for Disposal for $39,434
D) No adjusting entry is required.
Business
1 answer:
Ann [662]3 years ago
5 0

Answer:

C) credit Gain on Machine Held for Disposal for $39,434

Explanation:

Based on the information given if the original cost of the machine was the amount of $461,000 , Accumulated Depreciation was $310,566 while the fair value of the machine on Dec 31 ,2020 was the amount of $111,000 which means that the appropriate journal entry that will be included in a related adjusting entry on December 31, 2021 will be:

CREDIT GAIN on machine held for disposal for $39,434

($461,000-$310,566-$111,000)

(Original cost -Accumulated depreciation-Fair value)

You might be interested in
How does the financial market impact the economy?​
Inessa05 [86]

Answer:

Stock markets are one of the factors that affect the economy, but there are others as well. Consumer spending and business investment slows down, which reduces economic growth. Falling interest rates can stimulate economic growth. Fiscal policy decisions also can affect the economy.

3 0
4 years ago
Read 2 more answers
List the professional skills categories required for kinesiology practitioners to be successful
KatRina [158]
To be succesful, kinesiology practicioners need to:

- Master all the knowledge regarding human body and how they operate
- the ability to build relationship with other people so they could trust you as a client.
- Following/obeying all the ethical codes for the job
- Fulfill the expectation that patients had by suing their services.
4 0
3 years ago
You conducted a study on the efficacy of seatbelt use against the incidence of a skeletal fracture among persons involved in an
bezimeni [28]
The study design used in this scenario is an Epidemiological study design/ Epidemiologic study design. This type of study compares 2 groups whose characteristics are the same except for one factor. This type of study is usually used in the medical field. The purpose of a study design such as this is to determine if a factor is associated with health defects or injury.
6 0
3 years ago
Shelia was abducted from a school football field, taken to a bank, and forced to withdraw money from an atm machine. afterward,
Law Incorporation [45]
The correct answer is
A. Football Field

The reason for this is because the football field is the place where she was abducted. Although other crimes were committed the beginning of the crime starts with her abduction.
4 0
3 years ago
The three methods used to classify costs into their fixed and variable components includes:.
ANTONII [103]

The three methods used to classify costs into their fixed and variable components include:

  • scatter diagrams
  • high-low method
  • regression analysis

<h3>What is a costs classification?</h3>

This refers to the process of separation of a group of expenses into different categories which are used to bring an management's attention certain costs that are considered more crucial than others, or to engage in financial modeling.

Often time, the purpose of cost classification is to allows the manager control processes and cut costs where needed or send more resources to an area of the process that is lacking.

Furthermore, the cost classification also allows the manage to review reports and advise accounting of needed adjustments in cost classification.

Read more about costs classification

brainly.com/question/25811981

#SPJ1

8 0
1 year ago
Other questions:
  • Which basic objective of direct marketing involves attempting to motivate customers to visit an event or retail outlet?
    14·1 answer
  • Unions contribute to
    10·1 answer
  • Thermal Rising, Inc., makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider
    6·1 answer
  • A pharmacist stocks only one particular brand of acetaminophen, a popular pain-relief drug. Even if his customers prefer other p
    8·1 answer
  • Which of these transactions would produce $10,000 of revenue in December? (check all that apply)
    11·2 answers
  • In the United States, many local communities provide public libraries and parks. This is an example of a local government fullin
    6·2 answers
  • While almost everyone purchases toothpaste, not everyone buys the same toothpaste. Even a single brand can have several variants
    5·2 answers
  • Indirect channels for consumer goods
    6·1 answer
  • True or false: All other things being equal, taxpayers should prefer to recognize income during high-tax-rate years.
    8·1 answer
  • Below is the simple process model. What development activity would you choose to add first to this process and why?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!