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Maslowich
3 years ago
5

At January 1, 2017, Benny Enterprises reported a balance in the Equipment account of $45,000. During the year the company purcha

sed equipment with a cost of $60,000 and sold equipment with a book value of $30,000. The company reported a loss on the sale of equipment of $4,000. Assume the indirect method is used.
Determine what amount will be reported in the operating activities section
Operating Activities
Determine what amount will be reported in the investing activities section with regard to the purchase and sale of equipment.
Purchase of Equipments
Sale of Equipment
Click If you would like to show Work for this questioni Doen Show Work
Business
1 answer:
zhannawk [14.2K]3 years ago
6 0

Answer:

$4,000

Explanation:

The operating activities records daily activities of a business entity transactions such as depreciation expense, loss or profit on sale of long term assets, change in working capital etc.

With regards to the above scenario, there is a loss of $4,000 on the sale of equipment whilst same was recorded under the operating activity section as positive.

It is to be noted that the sale and equipment of an equipment falls under investing activity section hence shod be recorded therein as such, reason it was not considered here.

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Neal joins Filestene Inc. as an executive designer. The HR manager informs him that he will have to join the labor union within
Gnesinka [82]

Answer: (E) Union shop

Explanation:

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The workers or the union representatives also providing the various types of benefits in the specific time period. Depending on the different protection level the trade unions are varying nation to nations.

According to the given question, the Neal's human resource manager is basically referring to the union ship that is related to the union membership.    

Therefore, Option (E) is correct answer.  

7 0
3 years ago
How does a local water budget differ from the water budget of the whole earth?
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3 years ago
A property valued at $1 million is returning a net annual income of $85,000. what's its cap rate?
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4 0
1 year ago
Santora Company manufactures two productslong dash—toaster ovens and bread machines. The following data are​ available:
denpristay [2]

Answer:

Thus to maximize profit, Santora Company should manufacture Bread machine only.

The unit of Bread machine can be produced in 2,000 machine hours is 8,000 units

Explanation:

The profit for Toaster Ovens and Bread Machines is $10 and $90 respectively; thus  

six toaster ovens per machine hour will generate profit of $60 = ($10 *6)

four bread machines per machine hour  will generate profit of $360 = ($90 *4)

In the same machine hour the profit from Bread machines are significantly higher then Toaster over. Thus to maximize profit, Santora Company should manufacture Bread machine only.

The unit of Bread machine can be produced in 2,000 machine hours is 8,000 units (= 2,000 * 4)

The profit for 8,000 units of Bread machine is $720,000 = (8,000 * $90)

3 0
3 years ago
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