FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7. Prinkle Corporation purchased equipment for $56,000 on January 1, 2016. On December 31, 2018, the equipment was sold for $23,000. Accumulated Depreciation as of

7. Prinkle Corporation purchased equipment for $56,000 on January 1, 2016. On December 31, 2018, the equipment was sold for $23,000. Accumulated Depreciation as of December 31, 2018 was $32,000.

Calculate gain or loss on the sale.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

15th Edition

ISBN: 978-1337398169

More Books

Students also viewed these Accounting questions

Question

★★★★★
Specify in full the belief state update procedure for partially observable environments. That is, the method for computing the new belief state representation (as a list of knowledge propositions)...

Answered: 1 week ago

Question

★★★★★
The principle of dual-functioning chained stimulidefine it and give an example.

Answered: 1 week ago

Question

★★★★★
Find the probability that a normally distributed random variable will fall within these ranges: 1. One standard deviation of its mean 2. Two standard deviations of its mean

Answered: 1 week ago

Question

★★★★★
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2016, follows: The following business transactions were completed by...

Answered: 1 week ago

Question

★★★★★
Una compaa compr un terreno de 3 acres para un sitio de construccin por $530,000. La compaa demoli el antiguo edificio a un costo de $30,000, pero pudo vender la chatarra del edificio por $3,300. El...

Answered: 1 week ago

Question

★★★★★
A vapor compression refrigeration cycle uses R-22 and follows the theoretical single-stage cycle. The condensing temperature is 48 oC, and the evaporating temperature is 18 oC. The power input to the...

Answered: 1 week ago

Question

★★★★★
Jerry Schneider One of the more famous cases of computer abuse involves a young man named Jerry Schneider. Schneider had a flair for electronics. By the time he left high school, he had already...

Answered: 1 week ago

Question

★★★★★
In some damping systems, a circular disk immersed in oil is used as a damper, as shown in Fig. P2-125. Show that the damping torque is proportional to angular speed in accordance with the relation...

Answered: 1 week ago

Question

★★★★★
Which circuit in Figure P32.25 produces the greatest current in the emitter? Data from Figure P32.25 A B n-type p-type n-type n-type p-type n-type C n-type p-type n-type HHHHH

Answered: 1 week ago

Question

★★★★★
Verify Eq. (23.73a), and show numerically that the maximum Mach number for a laminar shock front is M = 1.58. Eq. (23.73a) nok B Te ="ogT [[1-{1 - 6/12] M> {}{24 - 1} () = (23.73a)

Answered: 1 week ago

Question

★★★★★
Solve the two equations given by (3.4) to obtain the values of the parameters given by Equations (3.5) and (3.6), respectively. Equation 3.4 Equation 3.5 equation 3.6 MI M m a x +6 * | x = 2 xy = 2 ...

Answered: 1 week ago

Question

★★★★★
(4 points) If Jane works 3 hours per day, how much are her labor earnings and benefits? Labor earnings: __________ Benefits:__________ (4 points) After how many hours of work does Jane no longer...

Answered: 1 week ago

Question

★★★★★
2. Give an example where information that is emotionally interesting, specific and close in time and space, can be used to capture someones interest.

Answered: 1 week ago

Question

★★★★★
7. How can an interpreter influence the utterer (sender)?

Answered: 1 week ago

Question

★★★★★
9. Find a news article in a daily newspaper written by a journalist. How is this news article related to: (a) The writers expertise? (b) The context? (c) The personal characteristics of the writer?...

Answered: 1 week ago

Previous QuestionNext Question