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SashulF [63]
1 year ago
7

Connor Lamps Inc. purchased factory equipment in January 2015 for $575,000. In March 2018, this equipment was sold for $105,000

cash. At the date of sale, the accumulated depreciation account totaled $325,000. The journal entry to record this sale includes:
Business
1 answer:
sammy [17]1 year ago
6 0

Answer:

Loss on sale of equipment Dr $145,000

Explanation:

The journal entry is shown below:

Cash Dr $105,000

Accumulated depreciation Dr  $325,000

Loss on sale of equipment Dr $145,000

          To Equipment $575,000

(Being the record of the equipment is recorded)

Since the equipment is sold for $105,000 due to which the cash is increased by $105,000 and there is a decrease in assets for $575,000 as this amount indicates the purchase value

Moreover, the accumulated depreciation is also debited for $325,000

And, the balancing figure would be transferred to loss on sale of equipment i.e $145,000

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A company has a merit pay plan based on the relative performances of workers teams. Each worker is a team gets the same wage as
belka [17]

Answer:

C) One worker can easily sabotage the productivity of other workers.

Explanation:

This is a form of compensation by merit that comprises the performance of a team as a whole, so this is a way of motivating both group work and individual work.

In the scenario above, we can see that this compensation plan would be effective in leveraging the performance of individual workers, and of teams, because if each member of the team is more productive, it will benefit the team as a whole. And this method will not affect the productivity of other teams, as each team will be encouraged and engaged to do the best job possible to achieve merit pay.

The alternative that does not correspond to the question that this incentive may be better than other methods to motivate workers to work harder, is the one that says that a worker can sabotage the productivity of other workers, as that worker is also likely to be engaged in not sabotaging the work of other team members, as the remuneration bonuses depend on the effort of the entire team to work together, and not just one employee.

7 0
2 years ago
Bob got a 30 year Fully Amortizing FRM for $1,500,000 at 4%, except with non-constant payments. For the first 2 years Bob will p
ikadub [295]

Answer:

$1,593,535.83

Explanation:

Future Value of mortgage determines the future value of a mortgage after payments have been made, at a regular frequency, charged a regular rate of interest, compounded at payment dates.

DATA

PV = $1,500,000

N = 24

r = 0.04/12

PMT = $1250

FV =?

Solution

PV = (PMT/r)*[1 – 1/(1 + r)^N] + FV/(1 + r)^N

1,500,000 = (1250/(0.04/12)) * (1 – 1/(1 + 0.04/12)^24) + FV/(1 + 0.04/12)^24

1,500,000 = 28785.31353687 + 0.92323916 FV

FV = (1,500,000 - 28785.31353687)/ 0.92323916

FV = $1,593,535.83

5 0
2 years ago
Cass & Company has the following data. How many days is the firm's cash conversion cycle? Inventory conversion period = 50 d
Savatey [412]

Answer:

42 days

Explanation:

Given that

Inventory conversion period = 50 days

Average collection period = 17 days

Payable deferral period = 25 days

Now The computation of the cash conversion cycle is shown below:

The cash conversion cycle = Inventory conversion period + Average collection period  -  Payable deferral period

= 50 days + 17 days - 25 days

= 42 days

6 0
1 year ago
Total Accounting has developed new software for nonprofit organizations that allows them to send donors receipts via text or ema
levacccp [35]

Answer: Donors(people donating for the progress of the society).

Explanation:

The solution or answer to this exam or problem or question can be seen or found in the first sentence of the question, that is;

"Total Accounting has developed new software for nonprofit organizations that allows them to send DONORS receipts via text or email".

Take note of the capitalized word, " donors" because that is the simplest answer to the question.

Therefore, the software was built and designed for people that are going to be donating or giving back to the society. The software is built in such a way that the Total Accounting marketing team can track who donors are.

4 0
1 year ago
Catherine is an hr executive looking for a new job. she comes across an advertisement in a newspaper seeking applications for th
Anon25 [30]

These requirements are called Workplace skills. These are the skills that an employee should possess in order for the company to attain its goals. These skills are needed of a candidate or an employee and these skills are needed for all companies or any industry. Examples of workplace skills are good communication skills, having good analytical skills, good interpersonal skills, good leadership skills, and being professional.

4 0
1 year ago
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