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
Naily [24]
3 years ago
14

A company sold equipment for $100,000; the equipment had cost $300,000 and had accumulated depreciation of $180,000. The company

’s journal entry to record the sale of the equipment would include a
Business
1 answer:
antiseptic1488 [7]3 years ago
7 0

Answer:

Debit to loss on sale of equipment of $20,000

Explanation:

Data provided in the question:

Selling cost of the equipment = $100,000

Cost of the equipment = $300,000

Accumulated depreciation of the equipment = $180,000

Now,

The book value of the equipment

= Cost of the equipment - Accumulated depreciation

= $300,000 - $180,000

= $120,000

Therefore,

Proceeds for selling

= Selling cost of the equipment - Book value of the equipment

= $100,000 - $120,000

= - $20,000

Here, the negative sign depicts a loss

Hence,

The company’s journal entry to record the sale of the equipment would include a Debit to loss on sale of equipment of $20,000

You might be interested in
Bruce, a first-line supervisor at Lou’s Market, regularly uses abusive and derogatory words when dealing with his subordinates.
Burka [1]

Answer:

The correct answer is Interpersonal.

Explanation:

Interpersonal justice refers to the perception of justice of employees in the interpersonal treatment they receive from those who have the power and the power to distribute the results (usually managers and managers). It is important for managers to be courteous and polite and treat employees with dignity and respect to promote interpersonal justice. In addition, managers and managers must refrain from making derogatory comments or belittling their subordinates.

4 0
3 years ago
The money supply will grow faster through deposit creation when the required reserve ratio is: a. high and banks hold excess res
Strike441 [17]

Answer:

c. low and banks are unable to loan out all of their excess reserves. d

Explanation:

Lower required reserve ratio means banks have more money to lend. When banks are able to lend all its excess money, then money supply increases for citizens.

7 0
3 years ago
What is the key to making extemporaneous speech sound professional and natural
Usimov [2.4K]
Well mainly extemporaneous speeches can be hard,  finding the right words without advanced notice may not be for every speaker. But trust me! No need to worry..... :) The extemporaneous speech is a perfect balance!!!!! This speech involves the speaker's use of notes and some embellishment to deliver a speech. To clear this up, a speaker who uses this method would have note cards or prompts that guide him from point to point, but he uses his own words as he goes along. What makes this different than an impromptu speech is that he has a loose guideline for his speech. He did not memorize anything....... he just used cues to know where to go next.
There are advantages but there are disadvantages to this type of speech sadly..... :(  For one, the audience will think you are a genius. You used few notes and appeared to know everything about the topic. But this is not something that can be done quickly. The same fact finding and research used for other types of speeches must be used here. The speaker also must rehearse this speech for timing, rhythm and flow. Now, if shooting from the hip is not your style, you may want to consider reading your speech!!!! :) But ya. I hope this is better. XD sorry about that.
6 0
3 years ago
Students interested in working as a chef might participate in what?
kolezko [41]
From my research, Skills USA is the most hands on when it comes to that kind of stuff.

I personally think the answer is C
7 0
3 years ago
Read 2 more answers
According to the theory of liquidity preference, if the supply of real money balances exceeds the demand for real money balances
Sedbober [7]

Answer:

Sell interest-earning assets in order to obtain non-interest-bearing money

Explanation:

The liquidity preference theory states that investors prefer cash or highly liquid assets to long term assets that carry high risk.

When investors obtain long term assets the charge higher interest rates or premium in order to mitigate associated risk.

In this scenario when the supply of money is higher than demand, there is abundance of non interest bearing money that is highly liquid.

According to the liquidity preference theory investors will sell their interest bearing assets and go for assets with high liquidity (non Interest bearing money)

3 0
3 years ago
Read 2 more answers
Other questions:
  • Magneto Company had net credit sales during the year of $1,350,000 and cost of goods sold of $810,000. The balance in accounts r
    7·1 answer
  • Anna Prentice has worked for years fixing broken typewriters. She is laid off from her job as fewer and fewer people use typewri
    8·1 answer
  • Which complex number is represented by the point graphed on the complex plane below? mc010-1.jpg
    11·2 answers
  • 1. Arness Woodcrafters sells $300,000 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a
    9·1 answer
  • When reducing project duration, the duration for a project that is optimal is at the point where Select one: a. Direct costs are
    10·1 answer
  • Two siblings each pay 30% of their parents support so they can decide who will claim the parents with a multiple support agreemo
    13·1 answer
  • Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company grante
    12·1 answer
  • Doing more with less in terms of resources invested in business, and, where possible, controlling the resources without owning t
    7·1 answer
  • The main elements of market structure are
    11·1 answer
  • A private warehouse requires a high volume of warehouse throughput for efficient operation. which is the best reason for this?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!