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WITCHER [35]
2 years ago
11

Equipment that cost $420,000 and on which $200,000 of accumulated depreciation has been recorded was disposed of for $180,000 ca

sh. the entry to record this event would include a
Business
1 answer:
NeTakaya2 years ago
3 0
The entry to record this event would include a  LOSS OF $40,000.
The equipment original cost = $420,000
Accumulated depreciation = $200,000
Selling price = $180,000
 Loss = 180,000 - [420,000 - 200,000] 
= 180,000 - 220 = - 40,000
Thus, a loss of $40,000 was experienced in the sale of the equipment.
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Alfarsi Industries uses the net present value method to make investment decisions and requires a 15% annual return on all invest
Rzqust [24]

Answer:

E. $7,190

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator

For project A,

Cash flow in year 0 = $-14,500

Cash flow in year 1 = $9,500

Cash flow in year 2 = $9,500

Cash flow in year 3 = $9,500

I = 15%

NPV = $7190.64

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

3 0
1 year ago
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
dmitriy555 [2]

Answer:

270,000 units

Explanation:

Given that:

Beginning Inventory for finished goods: 31,000

Ending Inventory for finished goods :  41,000

Beginning Inventory for raw materials: 61000

Ending Inventory for raw materials: 51,000

Units planned to be sold: 260,000

We compute the produced finished goods = Ending inventory + Units sold − Beginning inventory

           = 41,000 + 260,000 − 31,000 = 270,000

The number of units the company would have to manufacture during the year would be 270,000

6 0
1 year ago
Fill in the blanks.
pantera1 [17]

Answer:

The blank spaces are bold

Explanation:

a. The line  is called the​ population regression plane.

b. The common conditional standard deviation of the response variable is denoted​ σ.

c. For x=​6, the conditional distribution of the response variable is a​ normal distribution having mean​ βx + 6β1  and standard deviation​ σ.

8 0
1 year ago
Present three examples that illustrate how all decisions involve trade-offs
satela [25.4K]
It is probably safe to say that most if not all decisions involve trade-offs. For example a person may be offered a job that pays well but requires 7 days per week for a month and while this is good for a younger person with no other commitments it may not work for an older person with his own family commitments and other projects. Another decision could be that for support, a husband decides to not take on major time consuming projects while his wife is doing intensive studying to become certified in a field of her choosing  so that he can support her. Another example is that when one cannot drive one's son with a disability to a beach to swim because it is too far and uses too much car gas, the money saved on gas some of it could be spent on his groceries.
7 0
2 years ago
Read 2 more answers
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:
olchik [2.2K]

Answer:

Kindly check attached picture

Explanation:

Given the details below

Accounts Debit Credit

Cash $16,000

Accounts receivable 162,000

Prepaid rent 10,000

Supplies 31,000

Equipment 370,000

Accumulated depreciation $129,000

Accounts payable 11,000

Salaries payable 3,500

Interest payable 1,900

Notes payable (due in two years) 37,000

Common stock 210,000

Retained earnings 176,100

Dividends 27,000

Service revenue 360,000

Salaries expense 150,000

Advertising expense 75,000

Rent expense 18,000

Depreciation expense 32,000

Interest expense 2,500

Utilities expense 35,000

Totals $928,500 $928,500

Prepare an income statement for China Tea Company for the year ended December 31, 2021

Kindly check attached picture

8 0
1 year ago
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