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

Question

1 Approved Answer

Cactor A fixed asset with a cost of $25,524 and accumulated depreciation of $22,971.60 is sold for $4,339.08. What is the amount of the gain

image text in transcribed
Cactor A fixed asset with a cost of $25,524 and accumulated depreciation of $22,971.60 is sold for $4,339.08. What is the amount of the gain or loss on disposal of the fixed asset? a. S1,786.68 loss b. S1,786,68 gain c. 52,552.40 gain d. $2,552.40 loss

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

Intermediate Microeconomics And Its Application

Intermediate Microeconomics And Its Application

Authors: Walter Nicholson, Christopher M. Snyder

13th Edition

0357133064, 978-0357133064

More Books

Students also viewed these Accounting questions

Question

★★★★★
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: The company's manufacturing overhead cost is applied to production...

Answered: 1 week ago

Question

★★★★★
What is the relationship among the current account, the financial account, and the balance of payments?

Answered: 1 week ago

Question

★★★★★
=+people with 5 percent infl ation. What is unemployment in this period of unexpected infl ation?

Answered: 1 week ago

Question

★★★★★
Clean Sweep Company produces all-vinyl mats. Each doormat calls for 0.5 meter of vinyl material; the material should cost $3 per meter. Standard direct labor hours and labor cost per doormat are 0.3...

Answered: 1 week ago

Question

★★★★★
please show steps Presented below are selected ledger accounts of Splish Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends...

Answered: 1 week ago

Question

★★★★★
In a piston cylinder system, initially there is 0 . 1 5 m ^ 3 of nitrogen gas at a temperature of 3 5 0 K . The piston has a mass of 2 5 0 kg and a cross - sectional area of 0 . 1 m ^ 2 . The ambient...

Answered: 1 week ago

Question

★★★★★
Below are financial ratios for XYZ Corporation and comparative ratios for XYZ Corporations industry. The ratios for XYZ Corporation are computed using information from its financial statements. XYZ...

Answered: 1 week ago

Question

★★★★★
Apply different yield (revenue) management techniques to a variety of scenarios in hotel industry.

Answered: 1 week ago

Question

★★★★★
Marin Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in Western Canada. To do so, Marin has decided to locate a new factory in...

Answered: 1 week ago

Question

★★★★★
Bellevue Bell Inc. is trying to determine if it is financially viable to purchase a new metal melting machine. The cost of this machine is $135,376, and it is expected to have yearly expected cash...

Answered: 1 week ago

Question

★★★★★
Prepare a second management report that identifies three implementation issues that Ooni must address if it is to implement your Part 1 recommendations effectively. This report should draw on...

Answered: 1 week ago

Previous Question Next Question