Carey Enterprises sold equipment on January 1, 2014 for $10,000. The equipment had cost $48,000. The balance in Accumulated Depreciation at January 1 is $40,000. Requirements: 1. Compute the gain or loss on sale 2. Prepare journal entries to record the sale of the equipment

Answers

Answer 1

The sale of an equipment is referred to as disposal of an asset. The required answers are:

1. Gain on disposal = $2000

2.    Journal entry for the disposal of the equipment.

                              Dr                       Cr

                              $                         $

Cash acct.            10000        

Asset                                              8000

P or L                                              2000  

Disposal of an asset implies the sale of a plant, property, or equipment. This would ensure the recovery of the carrying amount of the item during sale.

1. The gain or loss on sale of the equipment can be determined by deducting its carrying amount from its recoverable amount.

Thus, to determine the gain or loss on disposal;

                                         $'000

Cost                                     48

Accum. Depreciation          40

Carrying amount                   8

Gain or loss on disposal = Selling price - carrying amount

                                         = $10000 - $8000

                                         = $2000

The gain on disposal is $2000.

2.                           Dr                       Cr

                              $                         $

Cash acct.            10000        

Asset                                              8000

P or L                                              2000                              

For more on disposal of asset, check: https://brainly.com/question/24098024


Related Questions

Can I get some help with these questions?​

Answers

Answer:

For the first question its X=110 For the second question angle AEF is 75 degrees and for angle ADF  is 105 degrees

Step-by-step explanation:

the total angle is 150 so take 4+22 and you get 26 then add 6+8 and you get 14 add 26+14 and you get 40 do 150-40 and you get 110 therefore x=110

a,√361/529 b,√240 c,√72 ​

Answers

Answer:

a. 19/28 or .826.

b. 4 times √15 or 15.492

c. 6 times √2 or 8.485

Step-by-step explanation:

helpppp meeee mateeee

Answers

No, Yes, No, No

-6 = (w/9) - 1

add 1 both side

-5 = w/9

multiply 9 by both sides

w = -45

Answer:

I'm pretty sure -45 is the only answer out of all of those.

a rectangular park is 45m long and 30m wide.A path is 2.5 on constructed outside the park find the area of the park​

Answers

Answer: 1350 m²

Step-by-step explanation:

30 m x 45 m = 1350 m²

Please help me solve this.

Answers

Answer:

63

Step-by-step explanation:

The answer is 63. Good luck!

4.
Graph the equation 3x – 2y = -4.

Answers

First of all arrange the equation in terms of y=Mx+c

2y=3x+4

(NOW DIVIDE BY 2 , TO MAKE Y ALONE)

Final answer is : Y = 3/2x + 2

What is the result when the number 8 is increased by 25%?

Answers

Answer:

whats 25% of 8

2 2 2 2 each one worth 25%

so just add 2 to the 8 and thats 10 so 10 is 125% of 8

Solve for the value of K

Answers

Answer:

k = 5

Step-by-step explanation:

The straight angle is 180º

The right angle is 90º

Therefor

(8k + 1) + 90 + 49 = 180

combine like terms

8k + 140 = 180

Subtract 140 from both sides

8k = 40

Divide both sides by 8

k = 5

Answer:

16.25

Step-by-step explanation:

Ms. Adam drives 150% of Mr. Gilbert’s distance. How far does Ms. Adam drive?

Answers

Answer:

first tell how far does Mr. Gilbert drive???

Mr. Gilbert drives 8 miles. Ms. Adam drives 150% the distance.

Start by dividing the percent by 100 to find the multiple. 150/100 is 1.5. Now multiply 1.5 times 8 to find the distance travelled. 8 * 1.5 = 12. Another way to think of 1.5 is (1 x 8) + (.5 x 8) = (8 + 4) = 12

I hope this helps! :)

What is the slope in the equation y = 2/5x - 6?

Answers

Answer:

2/5

Step-by-step explanation:

y=2/5x-6

m=2/5

y=mx+b

Slope:  2/5

y-intercept:  6

Step-by-step explanation:

Just Did Now, Am not Really good at asking questions

Option A: 40 trash bags for $6.29 Option B: 24 trash bags for $3.89
Which is the better option. Explain step by step-by-step. ​

Answers

Option B is a better option.

Step by step:

I divided 40/6.29 and got about 6.3.

I divided 24/3.89 and got about 6.1.

Which is less, 6.3 or 6.1?
If you said 6.1 you are correct, so option B has a less cost, making it a better option.

there are 6 marbles if 5 are needed, how many different alternatives are there

Answers

Answer:

30

Step-by-step explanation:

5x6=30

The interval (-1, 1) is best described as

Answers

Answer: There's an increasing interval between -1 and 1

While x goes from -1 to 1, the value of y increases (from -2 to 2).

what would be 8/1 x 1/2

Answers

Answer:

4.

Step-by-step explanation:

8*1 / 1*2

= 8/2

= 4.

[tex]8\times \dfrac 12 = 4[/tex]

Is the expression 32.3-3 equivalent to 33.3-22 Explain.


this assignment is due in 2 hours pls help!​

Answers

This is expression is not equal because the left hand and right hand side are different

What is 2(-2) raised to the power of 3 - 6x?

Answers

Answer: -2 * (3x + 8)

Would appreciate brainly <3

40 POINTSSS PLEASE HELPP!!
2. Use the following statement to answer ALL three parts of the question.
Statement: If two lines do not intersect, then they are parallel.
(a) Write the inverse of the statement. Is the inverse true or false? Explain your reasoning.
(b) Write the converse of the statement. Is the converse true or false? Explain your reasoning.
(c) Write the contrapositive of the statement. Is the contrapositive true or false? Explain your reasoning.

Answers

a) The inverse of the statement is the opposite. The statement stated that if two lines do not intersect, they are parallel. So, the opposite would be if two lines intercept, they are parallel. This inverse statement is false because, that is not true. Parallel lines mean they never intercept, not if they intercept its parallel.

b) Converse means to engage or explain, I think…so, the converse of the statement would be that yes, it is true that when two lines do not intercept then they are parallel. Because parallel lines never cross or meet, meaning they will NEVER ever have a crossing point.

c) the contrapositive of the statement would be: if two lines do not cross then they are parallel. If they do intercept, then they are not parallel. As simple as that. I think contrapositive means that…I looked what contrapositive means…so I think I’m right.

I hope this helps!! Or some at least. :)

Good luck!

Mr. Yueng graded his students’ math quizzes.
Students came up with four different answers when solving the equation x3 = 22.

Answers

Answer:

7.3*

Step-by-step explanation:

do the inverse:

22/3=7.3*

*=recurring

Assume that lines which appear to be tangent are tangent.
Find the value of the?

Answers

Answer:

12

Step-by-step explanation:

Assume that lines which appear to be tangent are tangent.

Therefor this is a right triangle.

Use the pythagorean theorem

c^2 = a^2 + b^2

15^2 = ?^2 + 9^2

225 = ?^2 + 81

subtract 81 from both sides

144 = ?^2

Take the square root of both sides

12 = ?

9514 1404 393

Answer:

  ? = 12

Step-by-step explanation:

The tangent makes a right angle with the radius at the point of tangency. That means the Pythagorean theorem can be used to find the missing length.

  ?² +9² = 12²

  ?² = 225 -81 = 144

  ? = √144 = 12

The value of ? is 12.

__

Additional comment

When you see a right triangle with the ratio of hypotenuse to leg of 15:9 = 5:3, you know immediately that it is a multiple of a 3:4:5 right triangle. Here, the scale factor is 3, so the missing side is 3×4 = 12.

PARALLEL PERPENDICULAR OR NEITHER OR SAME LINE

Answers

Answer:

parallel, perpendicular are opposite

Answer:

PARALLEL PERPENDICULAR

Step-by-step explanation:

Which rational exponent represents a cube root?
A.
O B. 11
o
C.
N-
O D.
14

Answers

i’m pretty sure it’s D, since 11 and a letter wouldn’t make since

If there are 1000 grams in a kg and 455 grabs in a pound, how many pounds are there per kg

Answers

Answer:

The answer is 0.45359237.

Step-by-step explanation:

I assume you are converting between kilogram and pound.

Answer:

2.20462

Step-by-step explanation:

1000 / 455 = 2.20462

Im confused on this. Michael has some coins in his pocket consisting of dimes, nickels, and pennies. He has two more nickels than dimes, and three times as many pennies as nickels. How many of each kind of coin does he have if the total value is $0.52?

Answers

Answer:

Using a system of equations, it is found that he has 2 dimes, 5 nickels and 12 pennies.

In the system of equations, I am going to say that:

x is the number of dimes.

y is the number of nickels.

z is the number of pennies.

---------------------

Two more nickels than dimes, thus:

Three times as many pennies as nickels, thus:

---------------------

A dime is worth $0.1, a nickel is worth $0.05, and a penny is worth $0.01. Total of $0.52, thus:

Solving for x:

---------------------

Solving for y and z:

He has 2 dimes, 5 nickels and 12 pennies.

A wire is bent to form a square of side 22 cm. If the wire is re bent to form a circle, its radius is with steps

Answers

Step-by-step explanation:

the circumference of a circle is

C = 2×pi×r

with r being the radius.

the square side length is 22 cm. so, the circumference or perimeter of the square (and therefore the length of the wire) is

4×22 = 88 cm.

now, it is the same wire of the same length that is now forming a circle.

so, the circumference of the square is also the circumference of the circle.

therefore,

88 = 2×pi×r

44 = pi×r

r = 44/pi = 14.00563499... cm

so, rounded, radius = 14 cm.

Answer:

The other answer is correct

Step-by-step explanation:

The circumference of the circle and the square will be the same so you solve the equation

4*22 = 2 pi r   where r is the radius.

The New York Nicks had a streaky season. They began by winning 4 games in a row, and then they lost 12 games in a row. After those 12 losses, they won every game, finishing with 3 wins for every 2 losses overall. How many games did they win after the first 16 games?

Answers

Using proportions, it is found that they won 14 games after the first 16 games.

This question is solved by proportions, using a rule of three.For each 3 games they won, they lost 2.They lost 12 games, all on the losing streak, and won x games.

Hence, the rule of three is:

2 losses - 3 wins

12 losses - x wins

Applying cross multiplication:

[tex]2x = 3(12)[/tex]

[tex]x = \frac{36}{2}[/tex]

[tex]x = 18[/tex]

18 wins, being 18 - 4 = 14 after the first 16 games, hence, they won 14 games after the first 16 games.

A similar problem is given at https://brainly.com/question/24372153

I am stuck. The screenshot will explain

Answers

Add the first expression
0.2+0.05=0.25
Multiply the second expression
0.2x0.05=0.010
Divide the results by each other
0.25/0.010
Get your answer
25

Hope this helps!

HELPPPPPPPPPPPP Plsssssssss

Answers

Answer:

either A or D

Step-by-step explanation:

plz help me fast Simplify t12/t6

Answers

Answer:

t^6

Step-by-step explanation:

when dividing exponents, you subtract (refer to exponent rule)

t^12 - t^6 = t^6

solve for x. -2(-4+3)-8=2(2+x)

Answers

Answer:

x = − 5

Step-by-step explanation:

Answer:

x=-5

Step-by-step explanation:

-2(-4+3)-8=2(2+x)

8-6-8=4+2x

2x=8-6-8-4

2x=-10

x=5

In a raffle, 100 tickets are sold and 10 of the tickets, selected at random, win a $5 prize. A participant buys one ticket. What is the standard deviation of the amount won?

Answers

I think the answer is 260
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