A company sold equipment that originally cost $310,000 for $124,000 cash. The accumulated depreciation of the equipment was $186,000. The company should recognize a: _____gain or loss

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Answer 1

The company should recognize neither a gain nor a loss on the sale of the equipment.

Let's calculate the gain or loss on the sale of the equipment.
The original cost of the equipment was $310,000, and the accumulated depreciation was $186,000. To find the net book value of the equipment, subtract the accumulated depreciation from the original cost:

Net Book Value = Original Cost - Accumulated Depreciation
Net Book Value = $310,000 - $186,000
Net Book Value = $124,000

The company sold the equipment for $124,000 cash, which is equal to the net book value of the equipment ($124,000).

Since the sale price is equal to the net book value, the company should recognize neither a gain nor a loss on the sale of the equipment.

Accumulated depreciation is the total amount of an asset's cost that has been allocated as depreciation expense since the asset was put into use.

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Related Questions

a transaction is closing on may 2 in a non-leap year. which of these is the proration of an annual charge of &560, using the statutory variation method

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To calculate the proration of an annual charge of $560 using the statutory variation method, we need to determine the number of days between May 2 and the end of the year in a non-leap year.

In a non-leap year, there are 365 days. Since May 2 is the 122nd day of the year (January 1 being the first day), there are 243 days remaining until the end of the year.
To prorate the annual charge, we divide the remaining days by the total days in the year and multiply it by the annual charge:
Proration = (Remaining days / Total days) * Annual charge
= (243 / 365) * $560
≈ $373.86
Therefore, the proration of an annual charge of $560 using the statutory variation method for a transaction closing on May 2 in a non-leap year is approximately $373.86.

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Which of the following is true regarding an emergency exit plan? It visually identifies the locations of all AED machines It is located in all closets in a building It clearly labels all exit and entry doors, stairwells, and elevators It clearly identifies the location of the manager's office

Answers

Option C. The truth about the emergency exit is that It clearly labels all exit and entry doors, stairwells, and elevators.

What is the emergency exit?

This is the door or gate that leads outside of a building. The emergency exit is very useful in buildings.

The reason for this is due to cases of serious emergencies such as fire outbreak or other issues.

Answers

a) Your portfolio should have a higher allocation toward bonds and cash equivalents right before you retire

if the government determines whether you get an apartment, you are most likely living in a [1] economy. In a [2] society, the government controls the resources. In a [3] society, the community in theory is supposed to control the resources, but in reality, the [4] does.
[1]- a. command
b. market
c. traditional
[2]- a. capitalist
b. communist
c. socialist
[3]- a. capitalist
b. communist
c. socialist
[4]- a. government
b. individual
c. market

Answers

Answer:

1. a. Command

2. c. Socialist

3. b. Communist

4. a. Government

Explanation:

"If the government determines whether you get an apartment, you are most likely living in a Command economy. In a Socialist economy, the government controls the resources. In a Communist society, the community, in theory, is supposed to control the resources, but in reality, the Government does."

1. A command economy is a type of economy where the government determines what is produced when it is produced, the quantity, as well as the price at which commodities are produced. The government also determines other activities in the economy such as the assignment of living spaces as well as the investments in the economy.

2. A socialist economy is an economy where goods are produced for consumption and are distributed to ensure equity by a centrally placed authority, which is the government.

3. A communist society according to Karl Marx is a classless society where all the resources belong to the entire community and properties are not owned by private individuals. In reality, though, the government actually controls the resources in this type of society. China is a country that practices communism.

In 2008, the US economy slipped into a recession. GDP dropped for two consecutive quarters, the economy experienced some deflation, and the unemployment rate rose to 7.6% in January 2009. As an economic advisor to Congress and the President, what would you suggest should be done regarding the tools of Fiscal Policy? Write a paragraph explaining how your recommendations pertaining to two fiscal policy tools would work to improve aggregate demand and increase the circular flow, while remedying the economic indicators listed above.

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The tools for the fiscal policy to solve the problem for recession are spending tool and revenue tool.

Spending tool involves government spending. Government should increase its capital expenditure such as building building, roads, dams ,schools, hospitals. These spending will increase country's capital stock as it will increase the employment level and adds up to the people earning.

It will in increasing the consumption pattern in the economy and results in in increasing the aggregate demand , hence the problem of recession will be solved.

Revenue tools includes direct taxes and indirect taxes.

Government should decrease the tax rates , so that it will increase the real income of the people which will increase the consumption and aggregate demand in the economy .

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I need help on these two. 15 pts. Brainliest...

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Readily available for personal use and growth

Stock Y has a beta of 1.45 and an expected return of 16.3 percent. Stock Z has a beta of .90 and an expected return of 12.6 percent. What would the risk-free rate have to be for the two stocks to be correctly priced relative to each other?

Answers

Answer:

risk free rate= 6.55%

Explanation:

expected return= risk-free rate +Beta*(Market rate- risk-free rate )

Stock Y

16.3=Rf+1.45(Rm-Rf)

16.3=1.45Rm-0.45Rf

Rm=(16.3+0.45Rf)/1.45

Stock Z

12.6=Rf+0.9*(Rm-Rf)

12.6=0.9Rm+0.1Rf

12.6=0.9(16.3+0.45Rf)/1.45+0.1Rf

risk free rate=(12.6-10.11724138)/(0.279310344+0.1)

risk free rate= 6.55%

Identify the examples of backgrounds. Check all that apply.

Sabir was raised in a Muslim family.
Michael wants to earn a college degree.
Irene is planning to become a Carpenter.
Jean has parents who have strong political views.
George wants to learn how to style hair.
Bao grew up participating in Chinese cultural activities.

Answers

Answer: The answers are: Sabir was raised in a Muslim family, Jean has parents who have strong political views, and Bao grew up participating in Chinese cultural activities.

Hope this helps :)

photosynthesis what is the term

Answers

Answer:

synthesis of chemical compounds with the aid of radiant energy and especially light especially : formation of carbohydrates from carbon dioxide and a source of hydrogen (such as water) in the chlorophyll-containing cells (as of green plants) exposed to light.

I hope it's helpful!

Answer:

The process in which plants make their own food

Sue wants to work as a chemical engineer for either a large corporation or the government. What would you advise her to
do while she is earning her bachelor's degree to gain some real-world experience in the field of chemical engineering while still earning
college credits ?

a) Apply for a cooperative education experience, through her university, at a company or an agency that will provide her real work
experience in her field of study

b) Study hard and wait until she earns her degree to get experience

c) Take a job on campus working in the office typing papers for engineering professors

d) Take a part-time job working nights at a pharmacy

Answers

Answer:

Explanation: The most common reason tbh.

Answer: A

And just trust

The Excellent DVD Company sells DVDs for $82 each. Manufacturing cost is $32.70 per DVD; marketing costs are $7.75 per DVD; and royalty payments are 15% of the selling price. The fixed cost of preparing the DVDs is $227 300. Capacity is 20 000 DVDs. Calculate the Break Even point in dollars. (Round the final answer to the nearest dollar)

Answers

The Break Even point in dollars for The Excellent DVD Company is $429,775. This means that the company needs to generate at least $429,775 in sales in order to cover all costs and reach a point where there is neither a profit nor a loss.

The Break Even point in dollars for The Excellent DVD Company is $429,775. This means that the company needs to generate at least $429,775 in sales in order to cover all costs and reach a point where there is neither a profit nor a loss.

To calculate the Break Even point, we need to consider both the fixed costs and the variable costs per unit. The fixed costs include the manufacturing cost, marketing cost, royalty payments, and the fixed cost of preparing the DVDs, which amounts to $227,300. The variable costs per unit consist of the manufacturing cost, marketing cost, and royalty payments.The contribution margin per unit is calculated by subtracting the variable costs per unit from the selling price. In this case, the contribution margin per unit is $82 - ($32.70 + $7.75 + 15% of $82).

To find the Break Even point in units, we divide the fixed costs by the contribution margin per unit. In this case, the Break Even point in units is $227,300 / contribution margin per unit.Finally, to find the Break Even point in dollars, we multiply the Break Even point in units by the selling price per unit. This gives us the Break Even point in dollars as $429,775.

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You are looking at a sales report from last month. You notice one metric is much lower than expected, so you click on that metric to get more details from last month. Being able to get additional information on the underlying details of a value is an example of using the ______ _______ feature of the sales report dashboard.

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Being able to get additional information on the underlying details of a value is an example of using the drill-down feature of the sales report dashboard.

Drilldown: What is it?

Business intelligence has two incredibly powerful features: drill down and drill through analysis. Although they do so in various ways, they both allow the user to view data and information in greater detail. By using the drill-down feature, the user can quickly switch from a more broad view of the data to a more focused one.

For instance, a drill-down report that displays sales revenue by state may allow the user to click on a state, select it, and view sales revenue by county or city inside that state. Drill down is a feature that enables users to delve deeper into more focused layers of the data or information being analyzed, hence the name.

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the euro rises against the dollar

Answers

The answer is on the picture.

There are two basic areas of science:
and applied science.
A.mental
B.information
C.pure

Answers

Answer:

Basic science, such as understanding how cells work, is research aimed at understanding fundamental problems.

Applied science, such as the medical field, is the application of basic scientific knowledge to solve practical problems.

Applied science uses and applies information obtained through basic science.

Explanation:

So, option B is the correct

Information ℹ️

Answer: I think it is B.

how do you become popular

Answers

Answer:

Spread the word; advertisements

Explanation:

In order to get popular you need to spread the word about your business, you needadvertisementst,s and sometimes even create your own website. Some website makers include Wix.

critically discuss how career and study choices are influenced by the following socio-economic factor: availability of finances/affordability

Answers

Answer:

availability of financial/affordability

Explanation:

it's enables you to make more money for the growth of the community so we study it that way

brenner to. calculate direct manufacturing labor variances and has the following information: actual hours worked: 300 standard hours: 325 actual rate per hour: $23 standard rate per hour: $18 given the information above, which of the following is correct regarding the direct manufacturing labor variances? a. the price and efficiency variances are favorable b. the price and efficiency variances are unfavorable c. the price variance is favorable, while the efficiency variance is unfavorable d. the price variance is unfavorable, while the efficiency variance is favorable

Answers

Regarding the direct manufacturing labor variances, the statement "the price variance is favorable, while the efficiency variance is unfavorable" is correct. Option C is correct.

Based on the given information, we can calculate the direct manufacturing labor variances as follows:

Actual labor cost = Actual hours worked × Actual rate per hour

= 300 × $23

= $6,900

Standard labor cost = Standard hours × Standard rate per hour

= 325 × $18

= $5,850

Price variance = Actual labor cost - (Actual hours worked x Standard rate per hour)

= $6,900 - (300 × $18)

= $6,900 - $5,400

= $1,500 (favorable)

Efficiency variance = (Actual hours worked × Standard rate per hour) - Standard labor cost

= (300 x $18) - $5,850

= $5,400 - $5,850

= -$450 (unfavorable)

Therefore, the price variance is favorable ($1,500) while the efficiency variance is unfavorable (-$450). Therefore, option C is correct.

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Give an example of a specialist external agency that a café could use to advertise for an accountant in their head office.

Answers

Answer:

A finance reporting accountant prepares periodic financial statements required for external reporting. They collect and analyze financial data, ensuring that all reporting complies with SEC and GAAP reporting regulations and guidelines. They also prepare internal reports as required.

Explanation:

Please mark Brainliest!

What are the pros and cons of using the different types of budget systems? Which one do you prefer?

Answers

Answer:

For example, Static budgeting:

The advantage is that they give tremendous focus on the financial aspect and help the business to be on track.

The disadvantage is that the system has limited flexibility to meet the changing needs of the business.

Answer: The pros of using the different types of budget systems the budgeting systems focus on the financial aspects that'll help keep people and businesses on track. Cons include the system having limited flexibilities that'll meet the changing needs.

_______________ are a comprehensive tool, especially since it would cost our society so much to prosecute and allow a trial for every individual that committed a crime.

Answers

Answer:

"Plea bargains" would be the correct approach.

Explanation:

The mechanism by which a convicted criminal as well as lawyer arrive at a mutually agreeable conclusion of such a criminal proceeding needs to be approved by the judge. It is indeed a deal during which the offender seeks to make a reduced case guilty verdict and indeed the complainant offers to dismiss an even more severe punishment.

Lana applies for a firefighterâ€™s job with Metro City, which responds with a letter setting an appointment for a medical exam. The letter also states that it is "an employment offer conditioned on the applicant passing the exam." This letter isâ€‹

Answers

Answer: a unilateral contract that Lana can accept by passing the exam.

Explanation:

A unilateral contract is a form of contract agreement whereby the offeror promises to do a particular thing or pay a certain amount after a specified action has occured.

In this scenario, Metro City would only give an employment offer to Lana if she passes her exam. This is a unilateral contract that Lana can accept by passing the exam.

Your company has sent you an email telling you your department must increase the daily output goal of 120 widgets per hour, to 126 widgets per hour. Everyone on your team recognizes more efficient production will lead to more profit for the company, and a higher chance for a raise for each of them. As usual, you will hold a brief meeting explaining the new directive and provide the deadline as to when this new daily production goal must be met with regularity. The meeting ends after a couple of clarifying questions and answers, and you and your employees get back to work on meeting the deadline for the new goal. What management theory best describes the management style of this company? What leadership style will you employ to get the required increase in production of widgets your company requested? Why is this leadership style the best fit for this scenario?

Answers

Answer:

Participative Leadership style.

Explanation:

Participative leadership, also known as democratic leadership, is one in which the leader has the central focus of employee engagement and participation in important company decisions. In this style of leadership, the manager has a crucial role of being the main motivator and advisor of the team, being solicitous to guide, coordinate and assist his subordinates in all their work demands, so that the goals and organizational goals are achieved.

This style of participatory leadership would be more appropriate for this scenario as there are deadlines for completing tasks, which requires a motivated and productive team, which is essential in participatory leadership.

The motivation of employees is achieved due to clear and guiding communication from the leader, which creates the perception of inclusion and appreciation of the employee, who feels an essential and important part of the organization.

As a result of a decrease in the demand for U. S. Dollars, there has been a depreciation in the value of the U. S. Dollar relative to New Zealand dollars. The depreciation in the U. S. Dollar has benefitted some groups but harmed others. Indicate which of the groups are winners and which are losers from the standpoint of the depreciation of the U. S. Dollar.

You are currently in a labeling module. Turn off browse mode or quick nav, Tab to items, Space or Enter to pick up, Tab to move, Space or Enter to drop. A. Todd, an American, goes to visit New Zealand for spring break.

B. An investment bank in New Zealand is interested in purchasing U. S. Government bonds.

C. Goodyear, a firm based in the United States, sells car tires in New Zealand.

D. A family from New Zealand visits relatives in the United States.

E. A firm from New Zealand sells handbags in the United States.

F. An electronics manufacturer based in the United States purchases a high tech company in

New Zealand

Answers

As a result in the dcrease in demand and value of the U.S dollar as against the New Zealand dollars, the groups that will benefit as those who have New Zealand dollars to spend or in investments

Effect of decrease in value of U.S dollars

Group of Winners

B. An investment bank in New Zealand is interested in purchasing U. S. Government bonds.

C. Goodyear, a firm based in the United States, sells car tires in New Zealand

D. A family from New Zealand visits relatives in the United States

E. A firm from New Zealand sells handbags in the United States.

Group of Lossers

A. Todd, an American, goes to visit New Zealand for spring break.

F. An electronics manufacturer based in the United States purchases a high tech company in

New Zealand

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Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.

Which questions should she consider before she buys the jacket? Check all that apply.

Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Will her sister like the jacket too?

Answers

Answer: Is advertising influencing her?

What are her motivations?

Has she compared prices?

Is she buying at the right time?

Explanation:

The questions that she should consider before she buys the jacket include:

• Is advertising influencing her?

• What are her motivations?

• Has she compared prices?

• Is she buying at the right time?

Before buying the jacket, the question "Will her sister like the jacket too?" shouldn't be considered as she is looking to satisfy her own needs and not that if her sister and in this case, he sister shouldn't have an impact on her buying decision.

Answer:

A, B, C, D

Explanation:

edge2021

Which pricing objective is associated with the phrase "charging what the market will bear"?a.volume-orientedb.profit-orientedc.cash flowd.market demande.status quo

Answers

The pricing objective associated with the phrase "charging what the market will bear" is "market demand" pricing.

Hence, the correct option is d.

Market demand pricing is a pricing strategy that sets prices based on the level of demand for a product or service. The goal of market demand pricing is to set a price that maximizes revenue by charging the highest price that customers are willing to pay for a product or service. In other words, the price is set based on what the market will bear or what customers are willing to pay.

Other pricing objectives include volume-oriented pricing, profit-oriented pricing, cash flow pricing, and status quo pricing. Volume-oriented pricing focuses on maximizing sales volume, while profit-oriented pricing aims to maximize profits. Cash flow pricing focuses on generating enough cash flow to cover expenses and invest in the business, while status quo pricing maintains the current price without making any changes.

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Explain one advantage of using retained profit as a source of finance.

Answers

Retained profits have several major advantages: They are cheap (though not free) – effectively the "cost of capital" of retained profits is the opportunity cost for shareholders of leaving profits in the business (i.e. the return they could have obtained elsewhere)

Raleigh BBQ has $48,000 in current assets and $39,000 in current liabilities. Decisions related to these accounts are referred to as:

Answers

Assuming Raleigh BBQ has $48,000 in current assets and $39,000 in current liabilities. This refers to as working capital management.

What is Working Capital Management?

Working capital management can be defined as the way in which a company or an organization ensures that both their current asset and current liabilities are put in use effectively and efficiently.

A company who make use of working capital management as a strategy will tend to ensure that their liabilities does not exceed their assets so as to maintain the company financial health.

Therefore this refers to as working capital management.

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In providing ____,the government establishes and enforces the laws necessary for a market economy to function

Answers

Answer:

I think that's regulations

Look at the reference article. The New York Times is otherwise considered a credible source, but what would lead you to question the credibility of the information presented in this specific article?

Answers

Answer:

probably if new york times itself stated that the article was false and to ignore the info

When looking at your credit card statement, what is a "Previous balance" ?

A: It is the amount you paid in interest during the last month
B: It is the amount still owed after making last months payment
C: It is the amount you paid on your last payment
D: It is the amount you were charged in interesting during the last month

Answers

On a credit card statement, the term "Previous balance" means the amount still owed after making last months payment.

What is a credit card statement?

In credit sector, the credit card statement means the statement that shows the complete log of your account activity during a specific period. It typical entails any payments, credits, interest and charges you have accrued during the period as well as details including the total account balance, statement balance, minimum payment due, due date etc.

In short, the credit card statement shows a credit-holder the summary of how they used their credit card for a billing period.