Answer:
Gain/loss= $7,500 loss
Explanation:
Giving the following information:
Selling price= $24,000.
Lassen bought the machine for $52,000 and has claimed $20,500 of depreciation expense on the machine
First, we need to calculate the book value:
Book value= original price - accumulated depreciation
Book value= 52,000 - 20,500= $31,500
If the selling price is higher than the book value, the company gain from the sale.
Gain/loss= 24,000 - 31,500= $7,500 loss
Answer:
Dollar amount of purchases is 1,228,400.
Explanation:
Total purchase of suits is equal to Inventory at the end plus sales minus inventory at the beggining.
- Inventory at the beggining is 4,800
- Inventory at the end (management desire) = 6,800
- Budgeted sales = 12,800
- Purchase of suits = 6,800 + 12,800 - 4,800 = 14,800
The explanation is if i have 4,800 units at the beggining, and i want to sell 12,800, i will need to purchase the difference (8,000 units). Plus the existence needed at the end, 8,000 + 6,800 = 14,800.
The cost per unit is $83, so the total cost is 14,800 * 83 = 1,228,400.
The Peak & Vale Accountants provides or offers
other firms and institutions with accounting services. Questions of what is ethical
involve the extent to which the Peak & Vale has an ethical duty beyond
those duties mandated by the law.
Answer:
Accounting profit = $50
Economic profit = $10
Explanation:
Accounting profit = Revenue - Explicit cost
$60 - $10 = $50
Economic profit = Accounting profit - Opportunity cost
$50 - $40 = $10
I hope my answer helps you