The case of perfectly elastic demand is illustrated by a demand curve that is

Equipment in general governmental service that had been acquired several years ago by a special revenue fund at a cost of $40,00

vivado [14]

Answer:

D. A credit to Other Financing Sources for $5,000.

Explanation:

As the equipment is used for governmental service and sold, the journal entry to record the disposal is as follows:

Debit Cash $15,000

Debit Accumulated Depreciation $30,000

Credit Equipment $40,000

Credit Gain on sale of equipment $5,000

Calculation: Book value of equipment = Cost price - Accumulated depreciation = $40,000 - $30,000 = $10,000

Therefore, Gain on sale of equipment = Disposal value - Book value = $15,000 - $10,000 = $5,000.

Therefore, option A is correct. Option B is also correct. Option C is also correct. Therefore, option D is not correct and it is the answer as it will not include in the journal.

7 0

3 years ago

A high degree of_____interdependence exists when team members share in the rewards that the team earns.

galben [10]

Answer:

goal

Explanation:

Goal interdependence is when members of a group share common goals.

3 0

3 years ago

A local private not-for-profit health care entity incurred the following transactions during the current year. Record each of th

erastova [34]

Answer:

JOURNAL ENTRIES

a) Debit investment $160,000 Credit Unrestricted Cash $160,000

b) Debit Permanent Restrictions cash $80,000 Credit Donations received $80,000

c) Debit Medicine Asset (on hand) $25,000 Credit $25,000 Restricted cash $25,000

d) Debit Accounts receivables $600,000 Credit N.G.O Revenues $600,000

e) Debit depreciation $38,000 Credit Accumulated depreciation $38,000

f) Debit Restricted Cash $15,000 Credit Interest income $15,000

g) NO entry ( estimate and future action)

h) Medicine expense $25000 Credit Medicine asset $25000

i) Debit Restricted Cash $172,000 Credit Investment $160,000, Credit Gain on sale of investment $12,000

Debit Equipment $187000 Credit Restricted cash $187000

j) no entry ( just promises)

UNRESTRICTED CASH

a) investment - 160000

RESTRICTED CASH (TEMPORAL)

c) Medicine -25000

f) Interest +15000

i) sold investment + 172000

= 162000

Restricted cash permanent

b) Donations +80000

Explanation:

EQUIPMENT = Temporal restricted cash = 162000+25000 = $187,000

The donation's money is restricted only to donations

7 0

3 years ago

An asset has an average return of 10.94 percent and a standard deviation of 20.98 percent. What range of returns should you expe

valkas [14]

If the standard deviation is 20.98%. The range you should expect to see with a 95 percent probability is: -31.02 percent to +52.9 percent.

<h3>Expected range of return </h3>

Expected range of return = 10.94 percent ± 2(20.98 percent)

Expected range of return =[10.94 percent- 2(20.98 percent)]; [10.94 percent + 2(20.98 percent)]

Expected range of return =(10.94 percent- 41.96 percent); (10.94 percent + 41.96 percent

Expected range of return = -31.02 percent to +52.9 percent

Inconclusion the range of returns is: -31.02 percent to +52.9 percent.

Learn more about expected range of return here:brainly.com/question/25821437

8 0

2 years ago

Fairweather Corporation purchases merchandise on terms of 2/15, net 40, and its gross purchases (i.e., purchases before taking o

Kobotan [32]

Answer:

The answer is $53,699

Explanation:

Discount = 2%

Discount days = 15 days

Net days = 40 days

Gross purchase is $800,000 per year

Discount on the purchase is $16,000(2% of $800,000)

Therefore net purchase is $784,000($800,000 - $16,000).

Net per day is:

Net purchase ÷ 365 days

$784,000 ÷ 365 days

= $2,147.95

Total trade credit = Net per day x Net days

$2,147.95 x 40 days = $85,918

Free credit = Net per day ×Discount days

=$2,147.95 x 15= $32,219

Therefore, Costly trade credit = Total credit −Free credit

$85,918 - $32,219

= $53,699

9 0

3 years ago