Answer:
The correct answer is Option B.
Explanation:
Obsolescence of an asset occurs when the value of an asset has reduced drastically due to radical technological innovation or there is now a better technique used in the production process that renders the old equipment worthless or less productive.
The appropriate journal entries to record the disposal of the asset are:
Debit Accumulated Depreciation – Equipment $30,000
Debit Loss on Disposal of Plant Equipment $45,000
Credit Plant Equipment $75,000
<em>(To record disposal of an asset) </em>
Note that the proceed on the disposal is zero since the organization did not put up the asset for sale.
Answer:
a. "President Nixon expressed satisfaction with last year's economic performance. He said that with inflation and unemployment heading down, the nation is on the right course."
⇒ RECOVERY. Economic recovery refers to the economy starting to grow again after a period of recession. A rightward shift in the aggregate supply curve should decrease unemployment and reduce inflation.
b. "The nation's inflation rate rose to a record high last month, the government reported yesterday. The consumer price index jumped 0.3% in January. Coupled with the announcement earlier this month that unemployment had risen by 0.5 percentage points, the reports suggested that the first month of President Nixon's second term had gotten off to a rocky start."
⇒ STAGFLATION. Stagflation refers to a combination of high inflation and high unemployment. A leftward shift in the aggregate supply curve can result in stagflation.
c. "President Carter expressed concern about reports of rising inflation but insisted the economy is on the right course. He pointed to recent reductions in unemployment as evidence that his economic policies are working."
⇒ PHILLIPS. According to the Phillips curve, inflation and unemployment are inversely correlated. if inflation goes up, unemployment should go down. Phillips theory was discredited due to stagflation occurring during Nixon's presidency. Nixon created stagflation for the first time in the US since it isn't normal that inflation rises as unemployment increases. That shows you how good a president he was, he even invented new things for Americans to enjoy.
Manifold Gauge Set
Commercial Restrictor In Charging Line
if i’m not mistaken, i think the answer is B!
A = 9,875 (1 + 0.048/12)^ 12(12)
A = $ 15,547
The amount of interest earned on investment = $ 15,547 - $ 9,875
= $ 7,672
Hope this helps