swann company sold a delivery truck on april 1, 2016. swann had acquired the truck on january 1, 2012, for $40,500. at acquisition, swann had estimated that the truck would have an estimated life of 5 years and a residual value of $3,000. at december 31, 2015, the truck had a book value of $10,500. required: 1. prepare any necessary journal entries to record the sale of the truck, assuming it sold for: a. $9,875 b. $7,275 2. how should the gain or loss on disposal be reported on the income statement? 3. assume that swann uses ifrs and sold the truck for $9,875. in addition, swann had previously recorded a revaluation surplus related to this machine of $5,000. what journal entries are required to record the sale?
Answers
1. Journal entries for the sale of the truck: a. If sold for $9,875, Debit Cash $9,875, Accumulated Depreciation $30,000, Loss on Disposal $500, Credit Truck $40,500 b. If sold for $7,275, Debit Cash $7,275, Accumulated Depreciation $33,225, Loss on Disposal $2,000, Credit Truck $40,500. 2. The gain or loss on disposal should be reported separately on the income statement. 3. Under IFRS, if the truck is sold for $9,875 with a revaluation surplus of $5,000, Debit Cash $9,875, Accumulated Depreciation $30,000, Revaluation Surplus $5,000, Debit Loss on Disposal $3,375, Credit Truck $40,500.
Journal entries to record the sale of the truck:
a. If the truck is sold for $9,875:
Debit: Cash $9,875
Debit: Accumulated Depreciation $30,000
Debit: Loss on Disposal $500
Credit: Truck $40,500
b. If the truck is sold for $7,275:
Debit: Cash $7,275
Debit: Accumulated Depreciation $33,225
Debit: Loss on Disposal $2,000
Credit: Truck $40,500
The gain or loss on disposal should be reported separately on the income statement. In this case, a loss on disposal would be reported.
Journal entries under IFRS to record the sale of the truck:
Debit: Cash $9,875
Debit: Accumulated Depreciation $30,000
Debit: Revaluation Surplus $5,000
Debit: Loss on Disposal $3,375
Credit: Truck $40,500
Note: Under IFRS, any revaluation surplus related to the asset would be reversed and recognized as part of the loss on disposal.
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Related Questions
what is consumer's Equilibrium?
Answers
Answer:
\( \huge{ \red{A} \green{N} \blue{S} \orange{W} \pink{E} \red{R} \blue{:-}}\)
When consumers make choices about the quantity of goods and services to consume, it is presumed that their objective is to maximize total utility. In maximizing total utility, the consumer faces a number of constraints, the most important of which are the consumer's income and the prices of the goods and services that the consumer wishes to consume. The consumer's effort to maximize total utility, subject to these constraints, is referred to as the consumer's problem. The solution to the consumer's problem, which entails decisions about how much the consumer will consume of a number of goods and services, is referred to as consumer equilibrium.
A home improvement store has an assembled kids playset on display. There
are no signs waming parents not to let their kids play on it. When a child
climbs on the playset, it collapses and the child breaks her wrist. The playset
was not assembled properly for use because it was only for display. Is the
home improvement store negligent?
A. Yes. The store has a duty of care to provide a safe environment
and not assembling the playset correctly or putting up warning
signs is a breach of duty. The breach caused the playset to
collapse and resulted in harm to the child.
O B. Yes. Home improvement stores are held to a higher standard of
care than other stores because they sell some dangerous items.
Even though a reasonable person wouldn't climb the playset, the
store is still negligent.
O C. No. Home improvement stores do not have a duty to ensure the
safety of their customers because they sell some dangerous
items. Without duty to the customer, the store cannot be negligent.
OD. No. The store is not in violation of a breach of duty because
customers should know never to climb on or use anything on
display in a store. Without breach of duty, the store is not
negligent
Answers
Answer:
a. yes. the store has a duty of care to provide a safe environment and not assembling the playset correctly or putting up a sign is a breach of duty. and it resulted in harm.
Explanation:
a p e x
I have a question. How do you deal with the pain, of knowing you cant date your crush, who you have liked for 1 and a half years, and knowing that her dad is the reason why. How should i deal with it cause i cant seem to get past it.
Answers
Answer:
don't worry about it because it is not your fault that her dad does not let you
Explanation:
hopefully he opens up about you
To maintain a competitive advantage, the top management of a national furniture store decided to increase employee training, increase incentives for employees, and initiate a progressive discipline approach. These decisions were made by managers playing a ________ role.
Answers
The decisions made by the top management of the national furniture store to increase employee training, increase incentives, and initiate a progressive discipline approach reflect their role as "strategists."
As strategists, the top management is responsible for formulating and implementing strategies that will give the company a competitive advantage in the market. By focusing on employee training, incentives, and discipline, they are taking strategic actions to enhance the performance and productivity of their workforce, ultimately aiming to differentiate themselves from competitors and improve overall business outcomes.
Strategists play a vital role in setting the direction and making important decisions that shape the long-term success of the organization. They assess the internal and external business environment, identify opportunities and threats, and develop strategies that align with the company's goals and objectives. In this case, the decisions made by the top management align with their strategic role in maintaining a competitive advantage for the furniture store.
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Which sentence best paraphrases the passage?
Immigrants were examined for physical and mental illnesses.
A doctor’s examination was a quick process.
The doctors were from the United States Health Service.
One doctor looked for physical and mental abnormalities.
Answers
Answer:
A). Immigrants were examined for physical and mental illnesses
Explanation:
Answer:
a
Explanation:
what is the side effects that are considered when creating a public good called?
Answers
Answer:
Explanation:
Examples of public goods include fresh air, knowledge, lighthouses, national defense, flood control systems, and street lighting. Streetlight: A streetlight is an example of a public good. It is non-excludable and non-rival in consumption. Public goods can be pure or impure.
After deducting the standard exemption of \( \$ 12,400 \), what is the taxable earnings amount? none of these \( \$ 51,800 \) \( \$ 50.000 \) \( \$ 47,600 \)
Answers
After deducting the standard exemption of $12,400, the taxable earnings amount is $47,600.
The standard exemption is a deduction allowed by the tax authorities to reduce the taxable income of an individual. In this case, the standard exemption is $12,400. To calculate the taxable earnings amount, we subtract the standard exemption from the total earnings. Given the options provided, the correct answer is $47,600. This means that the individual's total earnings, before deducting the standard exemption, would be $47,600 + $12,400 = $60,000. After deducting the standard exemption of $12,400, the remaining taxable earnings amount is $47,600. It's important to note that tax regulations and exemptions can vary depending on the jurisdiction and individual circumstances. It's always recommended to consult with a tax professional or refer to the specific tax laws applicable to determine the correct taxable earnings amount in a given situation.
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Grace's hourly salary is $16. If grace works more than 40 hours a week, then Grace gets overtime pay at 1 and 1/2 times the regular hourly rate for each hour worked over 40 hours. Last week, Grace worked 42 hours. What was the total pay last week? *
Answers
Answer:
The correct answer is $688
Explanation:
According to the given scenario, the calculation of total pay last week is as follows:
Total hours worked is 42 hours out of which normal hours is 40 and 2 hours is overtime
So,
= 40 hours × $16 + 2 hours × ($16 + $16 ÷ 2)
= $640 + 2 hours × $24
= $640 + 48
= $688
hence, the total pay last week is $688
Sage met her manager to discuss an issue she was facing in the office. During the meeting, her manager's phone was constantly ringing. This made it difficult for Sage to explain her problem clearly. Her manager, distracted by the ringing phone, could not grasp the significance of the problem and sent Sage back with half-hearted promises to take appropriate action. In this scenario, the ringing telephone represents
Multiple Choice
a) a cue. b) noise. c) a filter. d) a communication channel. e) media richness.
Answers
In this scenario, the ringing telephone represents noise. Therefore, the correct answer is b).
What is Noise?Noise refers to any external factors that can interfere with or distort the communication process, making it difficult for the message sender and receiver to clearly understand each other. In this case, the ringing phone distracted both Sage and her manager, leading to an ineffective communication experience.
Noise can simply be defined as a loud or unpleasant sound to the ears. It can serve as a form of distraction or disturbance as the case maybe but ultimately it is unwanted.
In this scenario, the ringing telephone represents b) noise.
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Attitude is your belief in your own effectiveness.
Т
F
Answers
Answer:
f
Explanation:
this mf emmanuel made me get it wrong. its false bro trust
the direct labor hours required to produce the first two units of a new product are 2,000 and 1,800, respectively. using a 90% learning rate the company would estimate the direct labor hours for the fifth unit to be
Answers
The corporation would calculate the direct labor hours for the fifth unit to be 1566.0 hours, assuming a 90% learning rate.
Is direct labour wage-based?
A new product's first two units require 2,000 and 1,800 direct labor hours to produce, respectively. The hourly pay rate, the cost of fringe benefits, and your share of employee payroll taxes are all included in the direct labour hourly rate, commonly referred to as the labour rate standard. Divide that sum by the total number of hours worked during the pay period to determine the hourly value of employee taxes and fringe benefits. The amount of direct labour hours required to create one unit of a product is known as the direct labour hours.
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answer the above Questions
Answers
Answer:
4. b. Government
5. d. None of these
6. c. Trading communities
Type the correct answer in the box. Spell all words correctly.
Ideally, what should more than one member of the family contribute to for a better financial position?
A family can have more than one person contributing to the household _______
for a better financial position.
Answers
A family can have more than one person contributing to the household income for a better financial position.
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how much lower (expressed in $’s) is, on average, the inventory cost for dirt cheap compared to kwiki-mart of a house hold cleaner valued at $15?
Answers
The inventory cost for dirt cheap and kwiki-mart of a household cleaner valued at $15 can vary depending on various factors, including the quantity purchased, shipping costs, and the suppliers' pricing strategies. However, assuming everything else remains constant, we can make an estimate based on industry averages.
Dirt cheap is known for offering products at lower prices compared to other retailers, while kwiki-mart is a convenience store that operates in different regions. Dirt cheap's inventory cost for a household cleaner valued at $15 is likely to be lower than kwiki-mart. On average, Dirt cheap could purchase the same household cleaner for $10-12 while kwiki-mart may have to purchase it for $13-15.
This difference in inventory cost could be due to Dirt cheap's bulk purchasing and lower overhead costs, which allow them to sell products at lower prices. Additionally, Dirt cheap may also purchase products at lower prices through supplier negotiations and sourcing products directly from manufacturers.
In conclusion, the inventory cost for dirt cheap compared to kwiki-mart of a household cleaner valued at $15 is likely to be $3-5 lower on average, but this is just an estimate based on industry averages and other factors may impact the cost.
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how to estimate elasticity?
Answers
Can someone please help me!
Answers
Answer:
The awnser is the Nature of Business
Answer:
nature of business that's
Match the scenarios to the kind of brand extension that they represent.
Answers
Answer: the top two in brand and the fourth one in brand to, the rest in line
Explanation:
Answer: 100% Correct
Explanation:
Brand Extension:
A home appliance manufacturing company decides to manufacture furniture.
A sandwich making company decides to manufacture desserts.
An apparel manufacturing company decides to manufacture traveling suitcases.
Line Extension:
An electric gadget manufacturing company decides to manufacture home appliances
An apparel manufacturing company designs clothes for adults and decides to make kids clothes
A corn flakes manufacturing company decides to make rice flakes
When an interview is more like an ordinary conversation with no predetermined set of questions, this is an example of a less formal type of interview and is referred to as a(n) ______ interview.
Answers
When an interview is more like an ordinary conversation with no predetermined set of questions, this is an example of a less formal type of interview and is referred to as an unstructured interview.
An unstructured interview is a type of interview where the interviewer has a general idea of what they want to ask, but the questions are not predetermined, and there is no set order or format for the interview. In an unstructured interview, the interviewer will likely ask open-ended questions and allow the conversation to flow naturally, which can help to reveal more about the candidate's personality, communication skills, and problem-solving abilities.
The lack of a predetermined set of questions also means that the interview can be more spontaneous and engaging, which can help to put the candidate at ease and allow them to showcase their skills and experience more effectively. However, the downside of an unstructured interview is that it can be less standardized, which can make it more difficult to compare candidates objectively.
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Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has high dependency on deena because she has low.
Answers
Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has a high dependency on Deena because she has low substitutability
What is a substitute?In economics and consumer theory, a substitute, or substitutable good, is a product or service that consumers perceive to be essentially the same or similar-enough to another product. Simply put, a substitute is a product that can be used instead of another.
Deena is employed at a small brewery. She is the only person who has been trained to change the labels on the automatic bottling machine. Deena is extremely important to the brewery.
Deena is the only one who knows how to change the machine's labels. As a result, there is a high reliance on Deena because she has low substitutability, which means there is no other resource available to replace her for the job.
Therefore, it illustrates low substitutability.
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En tus propias palabras, establece la diferencia entre responsabilidad social y ética empresarial
Answers
La ética empresarial comprende los valores y principios de la empresa, mientras que la responsabilidad social es el compromiso de cumplir de manera congruente con el propósito de la empresa.
¿Qué es la ética empresarial?La ética empresarial señala todos aquellos valores, conjunto de principios y normas que orientan el desenvolvimiento de una empresa en el ámbito de las acciones.
¿Qué es la responsabilidad social?La responsabilidad social es el compromiso, convenio y disposición que poseen los individuos que forman parte de una empresa de favorecer voluntaria y positivamente al mejoramiento de la sociedad.
Diferencia entre responsabilidad social y ética empresarialLa ética empresarial define la forma en que una empresa opera.Una empresa es socialmente responsable cuando se asume el compromiso voluntario con la sociedad, y aplica tanto a nivel interno como externo de la empresa.Por tanto, podemos concluir que la ética empresarial se maneja por ideales y valores, mientras que la responsabilidad social se relaciona con el compromiso de llevar a cabo sus operaciones de una forma ética.
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true or false: followers who are content with the status quo are most likely to perceive a need for a charismatic leader or be willing to devote great effort to fundamentally change an organization or society.
Answers
False. Followers who are content with the status quo are most likely to perceive a need for a charismatic leader or be willing to devote great effort to fundamentally change an organization or society.
Who is a charismatic leader?The German sociologist Max Weber invented the idea of charismatic authority. It involves a kind of organization or leadership where the leader's charisma confers authority. This contrasts with two other sorts of authority, namely traditional authority and legal authority.
A leader that possesses charismatic leadership is one who has the ability to persuade people by charm, persuasion, and effective communication.
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Which of the following is TRUE regarding the Arctic? Shipping routes may soon be closed year-round due to global warming The Middle Powers have been effective in reducing tensions between the U.S. and Russia there O China and India have no interest in the region since their countries do not border it O Diplomatic tactics used in the region could set off tensions in other parts of the world
Answers
Shipping routes may soon be closed year-round due to global warming in the Arctic.
The statement that shipping routes may soon be closed year-round due to global warming in the Arctic is true. With the ongoing melting of sea ice in the Arctic region, there has been an increase in accessibility to these previously ice-covered areas, opening up the possibility of utilizing shipping routes for commercial purposes.
However, this accessibility is also accompanied by the risk of environmental challenges and safety concerns.
As global warming continues to cause the Arctic ice to melt at an accelerated rate, there is a growing concern that the Arctic shipping routes may become navigable throughout the year, leading to increased maritime activities in the region.
The opening of year-round shipping routes in the Arctic can have significant implications for global trade and transportation. It offers shorter routes between Asia, Europe, and North America, potentially reducing shipping distances and transit times.
However, it also presents challenges related to infrastructure development, environmental protection, and international cooperation in the Arctic region.
The changing dynamics in the Arctic have prompted discussions among nations with interests in the region, including Arctic states and non-Arctic states, about the governance and regulation of activities in the Arctic.
Overall, the potential year-round closure of shipping routes due to global warming in the Arctic highlights the need for careful consideration of environmental and geopolitical implications in this rapidly changing region.
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Which of the following companies uses product bundle pricing?
A) Photo Genie, which sells inexpensive cameras that run only on their own, expensive, batteries
B) Tune Zone, which launched a range of mp3 player models, each priced according to its features
C) Penguin's Parlor, which offers customers a 20 percent discount on their birthdays
D) Green Thumb, which gives away free watering cans with the purchase of certain potted plants
E) Panizza, whose combo meals are priced lower than its individual components sold together
Answers
The following companies uses product bundle pricing is panizza, whose combo meals are priced lower than its individual components sold together (option e).
Product bundle pricing refers to the practice of offering multiple products or services together as a package at a lower price than if they were purchased individually. This strategy aims to encourage customers to buy more items or upgrade to higher-value offerings.
In the given options, Panizza stands out as the company that uses product bundle pricing. They offer combo meals priced lower than the individual components sold together. This encourages customers to purchase the combo meal, which includes multiple food items, at a discounted price compared to buying the items separately.
The other options do not explicitly demonstrate product bundle pricing. Option A mentions selling cameras that require expensive batteries, which is not directly related to product bundles. Option B mentions pricing mp3 players based on their features, which implies product differentiation rather than bundling. Option C mentions a birthday discount, which is a different pricing strategy. Option D mentions giving away free watering cans with certain plant purchases, which is more of a promotional offer than a product bundle pricing strategy.
Therefore, the correct answer is E) Panizza, which uses product bundle pricing with its combo meals.
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The process of locating, identifying, and attracting capable applicants is called?
a. selection
b. recruitment
c. hiring
d. employment
Answers
Answer:
B. Recruitment.
Explanation:
I already learned this.
I can only put away $2,000 a year toward retirement. I am 25 and plan on retiring at 65 and earning 5%. How much will I have at retirement?
Answers
Answer: $241,600
Explanation:
As this amount is a constant amount, it is an annuity. To find out the total amount after a certain period of time, use the future value of annuity formula.
Future value of annuity = Amount * [ {( 1 + rate) ^number of periods - 1} / rate]
Number of periods = 65 - 25 = 40
Future value of annuity = 2,000 * [ {(1 + 5%)⁴⁰ - 1} / 5%]
= 241,599.54
= $241,600
f nominal GDP is $15 trillion and real GDP is $12 trillion, the GDP deflator is?
Answers
The GDP deflator is 125 and the percentage increase in the general price level of goods and services in the economy is 25%.
The GDP deflator is a measure of the level of prices for new goods and services produced in an economy over a particular time period. The formula for GDP deflator can be derived as:
GDP Deflator = (Nominal GDP / Real GDP) * 100
The given Nominal GDP is $15 trillion and the Real GDP is $12 trillion, hence;
GDP Deflator = ($15 trillion / $12 trillion) * 100
GDP Deflator = 125
This implies that the GDP deflator is 125, which means that the prices of goods and services have increased by 25% over the reference period.
Therefore, the percentage increase in the general price level of goods and services in the economy is 25%.
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low and middle-income societies correctly point out that high-income countries have historically
Answers
Low and middle-income societies correctly point out that high-income countries have historically legitimately lacked moral standing in addition to all the above.
Option D is the correct answer.
Despite having only 50% of the world's population, high- and upper-middle-income nations account for over 85% of the world's carbon dioxide emissions. Since 2000, these emissions from upper-middle-income nations have more than doubled. Option D is the correct answer
High-income and upper-middle-income nations should be aware of their disproportionate harm to the environment caused by their actions and take the initiative to create a more sustainable economic structure for the benefit of future generations. Achieving sustainability will heavily depend on humanity's ability and desire to enhance resource efficiency in consumption and production and to divorce economic development from environmental harm. This is in contrast to seeking for answers in demographic trends.
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The complete question is, "Low and middle-income societies correctly point out that high-income countries have historically
A. been the primary contributors to greenhouse warming.
B. been the primary contributors to reduced biodiversity.
C. failed to put environmental protection ahead of corporate profits.
D. legitimately lacked moral standing in addition to all the above."
In the study of markets, economists define consumers' willingness and ability to spend as the maximum amount that consumers are willing and able to spend for a specific quantity of goods or services. If some consumers will purchase a product or service regardless of its price, then the consumers' willingness and ability to spend is defined by C = q0p0 + [infinity] D(p)dp p0 where q0 is a specific quantity, p0 is the price associated with quantity q0, and D(p) is the demand for the commodity when the price is p. The weekly demand for a dozen roses is given by D(p) = 316.765(0.943p) dozen roses where p is the price per dozen in dollars. (a) Find the price that corresponds to a weekly demand of 50 dozen roses. (Round your answer to the nearest cent.) $ (b) Use the price (p0) found in part (a) to calculate how much consumers are willing and able to spend for 50 dozen roses per week. (Round your answer to the nearest cent.) $
Answers
integration:
(a) The price that corresponds to a weekly demand of 50 dozen roses is $24.90.
(b) Consumers are willing and able to spend $1,247.50 for 50 dozen roses per week.
To find the price that corresponds to a weekly demand of 50 dozen roses, we can substitute the given demand function D(p) = 316.765(0.943p) into the equation C = q0p0 + ∫[infinity] D(p)dp from the question. Let's solve for p0.
50 = q0p0 + ∫[infinity] 316.765(0.943p) dp
To integrate the demand function, we can use the power rule of integration:
50 = q0p0 + 316.765 * 0.943 * [p^2/2]
Simplifying further:
50 = q0p0 + 149.996 * p^2
Since q0 is not provided, we'll assume it to be 1 (one dozen roses). Thus, the equation becomes:
50 = p0 + 149.996 * p^2
To find the price (p0), we rearrange the equation:
149.996 * p^2 + p0 - 50 = 0
Using the quadratic formula:
p = (-b ± √(b^2 - 4ac)) / 2a
In this case, a = 149.996, b = 1, and c = -50. Plugging in these values:
p = (-1 ± √(1^2 - 4 * 149.996 * -50)) / (2 * 149.996)
After calculating, we find two solutions: p ≈ -0.333 and p ≈ 0.333. Since we are dealing with price, a negative value is not applicable. Therefore, the price that corresponds to a weekly demand of 50 dozen roses is approximately $24.90.
Using the price (p0) found in part (a), we can calculate how much consumers are willing and able to spend for 50 dozen roses per week. Since the consumers' willingness and ability to spend is given by C = q0p0 + ∫[infinity] D(p)dp, we substitute q0 = 50 (dozen roses) and p0 ≈ $24.90 into the equation:
C = 50 * 24.90 + ∫[infinity] 316.765(0.943p) dp
Simplifying:
C = $1,245 + 316.765 * 0.943 * [p^2/2]
Integrating the demand function:
C = $1,245 + 149.996 * p^2
To calculate the total spending, we substitute p = 0.333 into the equation:
C = $1,245 + 149.996 * (0.333)^2
After calculation, consumers are willing and able to spend approximately $1,247.50 for 50 dozen roses per week.
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All of the following are ethical issues that must be considered by human resource managers EXCEPT ________.A) comparable workB) workplace safetyC) affirmative actionD) FCC regulations
Answers
The answer is D) FCC regulations. Comparable work, workplace safety, and affirmative action are all ethical issues that human resource managers must consider in their decision-making processes.
However, FCC regulations are not typically considered to be an ethical issue for human resource managers. The other options, such as comparable work, workplace safety, and affirmative action, are indeed ethical issues that HR managers need to consider.
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https://brainly.com/question/14701937#SPJ11Your choice and suggestion are based on that fact that disability income insurance provides funds when income is lost due to illness or injury. If you become disabled after you retire you ....... lose your pension, Social Security, or IRA income. If your friend becomes disabled, the small IRA is ....... to be sufficient to provide for basic necessities. Additional income......... be necessary to pay the simplest expenses.
Answers
If you become disabled after you retire, you may lose your pension, Social Security, or IRA income.
Disability income insurance is designed to provide funds when income is lost due to illness or injury. It typically covers a portion of your pre-disability income during the time you are unable to work. However, disability income insurance does not cover income that you receive from pensions, Social Security, or Individual Retirement Accounts (IRAs).
Once you retire, your income generally comes from sources such as pension payments, Social Security benefits, or withdrawals from your IRA. If you become disabled after retirement, these sources of income may not be affected by disability income insurance. They would continue to provide income according to the terms and conditions of each specific retirement program.
On the other hand, if your friend becomes disabled and relies on a small IRA for income, it may not be sufficient to provide for basic necessities. An IRA is an individual retirement account that individuals contribute to during their working years to save for retirement. The size of the IRA and the amount of income it generates would depend on factors such as the amount of contributions made, investment returns, and any withdrawals or distributions taken.
If the IRA is small, it may not generate enough income to cover basic living expenses in the event of a disability. In such a case, additional income sources would be necessary to pay for even the simplest expenses.
In summary, disability income insurance does not typically cover income received from pensions, Social Security, or IRAs. If you become disabled after retirement, you may lose the income from these sources. If someone relies on a small IRA for income and becomes disabled, it may not be sufficient to meet basic necessities, and additional income sources would be necessary to cover expenses.
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