In the consolidation eliminating entries for 2021, the equipment account (gross cost) is reduced by a net amount of <u>$340,000</u>.
<u>Explanation</u>:
<em><u>Given</u></em>:
Selling cost of equipment = $520,000
Original cost of the equipment = $200,000
Depreciation of asset = $20,000
The net amount of the Equipment = Original cost - Accumulated Depreciation
The net amount = $200,000 - $20,000 = $180,000
The Profit on Sale of the Equipment = Selling cost - The net amount
= $520,000 - $180,000
= $340,000
The equipment account (gross cost) is reduced by a net amount of <u>$340,000
</u>.
Answer:
Holland codes are also known as Holland Occupational Themes, which is a theory based on Vocational choice and careers. The theory was revealed by John L. Holland, who was an American Psychologist.
Explanation:
The Holland codes are involved in career counseling practices and researches. The basic theory was that the occupational preferences of the individuals were surrounded by the underlying character of the individual. The theory is centered on the following six personality traits:
- Realistic - They like to work with hands, assembling and building things, working on tools and machines. They like to work outdoor.
- Investigative - They are more into discovering new ideas, investigating and, asking the questions to solve the problem.
- Artistic- They are more performance-oriented, more expressive, and good at designing and creating things.
- Social- They like working with people and are concerned about the welfare and well-being of other people.
- Enterprising - They like leading, influencing, and encouraging others.
- Conventional- They like following the procedures to work, planning the events, and work. They also like working indoor.
The Holland codes state that the people who possess similar personality traits aim to create an environment that fits them best and their type of work. Holland further stated that when people choose to work in a situation that is related to their personality, they are more contented and successful.
Answer:
Shelly's net worth is $143,900
Explanation:
An individual's net worth is the net value of all the asset owned, when all the liabilities have been subtracted. It is simple the total of what is owned minus what is owed. Hence, for shelly:
Total assets = $165,200
Total liabilities = $21,300
∴ Net worth = 165,200 - 21,300 = $143,900
Answer: A. Melissa qualifies based on her age of 26
Explanation:
An age of maturity qualifies an individual to access some rights in the society, especially at matured age ranging from 18-21 years above. Melissa qualifies to enjoy the benefits of Mr Drew based on her age.
