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

Find the values of x and y, and z

Answers

Answer:

z = 15

y = 8

x = 7

Step-by-step explanation:

All of the angles added together equal 180.

4z + 4z + 4z = 180

z = 15

3y - 1 = 23 ( all sides equal each other because all angles equal each other )

y = 8

2x + 9 = 23 ( similar to how I found y )

x = 7

I hope this helps!!

Darryl can travel to the store on his skateboard three times faster than he can return carrying his package and skateboard. If the total trip takes 30 minutes, how many minutes does it take him to return from the store?

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48Step-by-step explanation:

40 = 48 quarts

8) What are the measures of angles x, y, and z?

Answers

Step-by-step explanation:

y=55°(corresponding angles are equal)

x=55°(alternate angles are equal).

z+55°=180°

=180-55=z

z=125°

Answer:

x = y = z = 55°

Step-by-step explanation:

x = 55° (vertical angles)

y = 55° (corresponding angles)

z = 55° (corresponding with x -> z = x)

find the sum
(2x+6)+(4x-12)
HELp

Answers

Answer:

6x - 6

Step-by-step explanation:

(2x + 6) + (4x - 12) ← remove parenthesis

= 2x + 6 + 4x - 12 ← collect like terms

= (2x + 4x) + (6 - 12)

= 6x + (- 6)

= 6x - 6

$1,000 invested at 8% compounded semiannually after a period of 2 years

Answers

Answer:

1160 will be the new amount after 2 years

Step-by-step explanation:

P = $1000, t = 2 years, r = 0.08.

A = 1000(1+0.08(2)) = 1000(1.16) = 1160

Therefore 1160 is the new amount after two years.

Please answer without a link.

Answers

Answer:

D) 15/4+5.4

Step-by-step explanation:

W to the 3rd power over W to the -2 power

Answers

Answer:

[tex]w^{5}[/tex], w to the power of 5

Step-by-step explanation:

[tex]\frac{w^3}{w^-2}[/tex]

When dividing indices with the same base number, you can subtract the powers: 3 - (-2) = 5. Therefore the answer is [tex]w^{5}[/tex]

Hope this helps!

The triangle below models a section of the supports you might see in a construction crane.

a. What is the sum of the angle measures of the triangle? Show your work.

1. Alt interior = 60

2. angle A + angle B + 2 =180

3. x supplemental

4. Alt interior = 90

5. Supplimentary = 90

(A is already solved)

b. Check your answer to problem 3a. Show your work.

(Please answer b)​

Answers

Exactly what was your answer for a

Given f(x)=5x-3, find f(-3)

Answers

f(x)=5x-3
f(-3)=5(-3)-3
f(-3)=-15-3
f(-3)=-18
ur answer is -18

Answer:

[tex]f(-3)=-18[/tex]

Step-by-step explanation:

Since

[tex]f(x)=5x-3[/tex], we can plug in our values

[tex]f(-3)=-15-3[/tex]

Combine like terms

[tex]f(-3)=-18[/tex]

A restaurant keeps eggs in a rack that has 5 layers each layer has 5 row with 5 eggs in each row

Answers

What are you asking?
5 Layers
5 Rows in each layer
5 in each row
25+25+25+25+25=125

One centimeter is equal to 10^-2 meters. What decimal number
is equivalent to 10^-2

Answers

Answer: shoulb be to the thirs 4/8

Step-by-step explanation:

TJ wants to sell his antique 1966 Mustang. He begins to set his price by looking at ads and finds these prices: $12,000, $9,500, $7,500, $14,000, and $12,000. What is the mean, median, mode, and range price?

Answers

Answer:

Range: 6,500

The difference between the largest and the smallest number.

Mode: 12,000

The number that appears most.

Mean: 11,000

Because its the average of all numbers

Median: 9,500

The middle number

Yuri surveyed a random sample of 75 students in his school about their favorite color. Of the students surveyed, 49 chose lavender as their favorite color. If there are 908 students at the school, what is a valid estimate of the number of students whose favorite color is lavender?

600 students

300 students

450 students

800 students

which one?

Answers

Answer:

600

Step-by-step explanation:

Take the number that answered lavender and divide by total # of students surveyed

49/75 = .653333 or 65.3%

then take the total # of students and multiply by .6533333

908x .6533333 = 593.22

so the closest estimate is 600

-- Gage Millar, Algebra 1/2 tutor

Geometry- Solve the portion. Question#3​

Answers

Answer:

[tex]a=1[/tex]

Step-by-step explanation:

First let's put our equation[tex]\frac{1}{a+3}=\frac{4}{16}[/tex]Cross - Multiply[tex]4a+12=16[/tex]Subtract both sides by 12[tex]4a=4[/tex]Divide both sides by 4[tex]a=1[/tex]

Answer:

a=1

Step-by-step explanation:

Hi there!

We are given the proportion [tex]\frac{1}{a+3} =\frac{4}{16}[/tex], and we want to solve it for the variable, a

Before we start, we can simplify 4/16 to 1/4, since 4 is the GCF of the numerator and denominator of that fraction. Simplifying the fraction will make the computation easier, as the numbers are smaller.

Therefore, the proportion will now be:

[tex]\frac{1}{a+3} =\frac{1}{4}[/tex]

Because this is a proportion, we can cross multiply in order to solve for a; to do that, multiply a+3 by the expression that is on the top right (in this case, 1). Also multiply 4 by the expression that is on the top left (in this case, 1). Then, set them equal to each other, since it is still an equation :)

1(a+3)=4(1)

Multiply

a+3=4

Subtract 3 from both sides

a=1

Hope this helps!

what is the vertical asymptote for this function?
y=1/x-2

Answers

Answer: x = 0

Step-by-step explanation: so x = 0 is the equation of the vertical asymptote, and 0 must be left out of the domain: (−∞,0)U(0,∞) in interval notation.

Answer:

2

Step-by-step explanation:

Write an equation in slope-intercept form of the line please help me

Answers

Answer:

The formula is generally represented equationally as ( y - Y1 ) = m( X - X1 ) so now let's substitute the points plotted on the graph.

it is equal to (y - 4) = m(x - 0)

and now we look for the slope

m = y2 - y1/ x2 - x1

which can be directly substituted according to every line connecting each x value to a certain y value.

Twenty-nine lots of p=

Answers

Answer:

29p

Step-by-step explanation:

pretty simple

Answer:

29p

Step-by-step explanation:

you

take

p

multiply

by

29

and

the

answer

is

29p

Help please! I do not understand

Answers

Here you got in two sections it won’t let me post both pictures at once

Complete the blanks in the materials list to find the total cost of the plumbing fixtures. The quantity of needed items is listed you have to figure the total cost of the materials for the job.

Answers

Answer:

$3,466.12 Hope this helped.

Kitchen sink total: $285.52
Bathtub total: $875.90
Sump pump total: $205.31
Water pump total: $375.10
Water heater total: $464.00
Water softener total: $429.99
Lavatory total: $694.02
Toilet total: $259.77
Laundry tubs total: $137.43
Total without tax: 3727.04
Tax: 260.89

Total with tax: 3987.93

32is ​0.2% of what​ number? Use pencil and paper. Would you expect the answer to be a lot less than ​32, slightly less than ​, slightly greater than ​32, or a lot greater than 32 ​? Explain

Answers

Answer:

A lot greater

Step-by-step explanation:

32 is 0.2% of the number, that is a small amount compared to what the whole is

2/3 subtracted from 1/2

Answers

Answer:

-1/6

Step-by-step explanation:

[tex]\frac{1}{2}- \frac{2}{3} = \frac{3}{6} - \frac{4}{6} = -\frac{1}{6}[/tex]

g
Pat a
mber
4. In a hockey league, 87 players play on seven
different teams. Each team has at least 12
players. What is the maximum number of players
on any one team?

Answers

Answer:

15

Step-by-step explanation:

since there is 7 teams and 12 can be the minimum we can do 7 x 12=84

this means that 3 people could possibly be on one single team.

the maximum number is 12+3=15

If angle 1 is 110° what would the other angle measures have to be in order for m || n and q || p

Answers

Answer:

Angle 1 = 110

Angle 2 = 110

Angle 3 = 70

Angle 4 = 70

Step-by-step explanation:

Angles 1 and 2 are corresponding angles, and therefore congruent

Angles 2 and 3 are same-side interior angles, and therefore supplementary

Angles 3 and 4 are alternate interior angles, and therefore congruent.

Answer:

Angle 2: 110

Angle 3: 70

Angle 4: 70

I am stuck on a geometry lesson. It is on the Angle Sum Theorem. It said we have an obtuse trisngle with angles 1, 2, and 3. Then they extend the line out as a dashed line top and bottom parallel to each other. It then he says we have angle 1 value would also be true on the opposite side of the triangle like as a transeversal intersected 2 parallel lines making those angles alternate interior angles. He does the sme with 2. then says 1 plus 2 plus 3 equal 180 and says it twice. What does that mean?​

Answers

The angle sum theorem states that the sum of all the interior angles of a triangle is 180 degrees. In a Euclidean space, the sum of the measure of the interior angles of a triangle sum up to 180 degrees, be it an acute, obtuse, or a right triangle which is the direct result of the angle sum theorem of the triangle

Which Game Is The Best And Why?

A.) Uncharted 4 a Thief's End
B.) Call Of Duty Modern Warefare
C.) Batman Arkham Knight
D.) Marvel's Spider-Man

Answers

B) obviously it’s the most played game then all of the others this year

Answer:

Hmm, id say call of duty, because first of all, my brother would not be happy if i chose something else, lol, also that one is pretty fun

Step-by-step explanation:

2. Which statement is true? (1 point)
O All quadrilaterals are rectangles.
O All quadrilaterals are squares.
O All rectangles are quadrilaterals.
O All quadrilaterals are parallelograms.

Answers

Answer:

the third one

Step-by-step explanation:

all rectangles have 4 sides therefore a quadrilateral

Answer:

3

Step-by-step explanation:

Rectangles require 4 sides and 90 degree corners, a quadrilateral requires 4 sides. So rectangles fulfill the quadrilateral's condition, but quadrilaterals can't always fulfill other forms' condition.

If Marlene can type 157 words per minute how many words can she type in 25 minute

Answers

Answer:

3925

Step-by-step explanation:

25x

25*157

The length of a rectangular room is 20 times longer than the width . If the perimeter is 588, what are the dimensions of the room

Answers

Answer:

im a teacher sorry not giving answer only hint

explanation:

To find the width, multiply the length that you have been given by 2, and subtract the result from the perimeter. You now have the total length for the remaining 2 sides. This number divided by 2 is the width.

thank you

a woman is 16 weeks pregnant with her first baby. she asks how long it will be before she feels the baby move

Answers

Answer:It will take about 1 month or 2 months for the baby to start movingStep-by-step explanation:

It will take about 1 month or 2 months for the baby to start moving since a pregnancy takes 9 months so the most logical thing is that the baby starts to move between 1 month or 2 months

someone please help me

Answers

Answer:

  (a)  A is steeper; 4/5 > 2/5

Step-by-step explanation:

The slope of A is the coefficient of x, so is 4/5. This eliminates choices B and D.

The line in the graph has a rise of 2 units for each run of 5 units, so has a slope of ...

  slope = rise/run = 2/5

This eliminates choice C.

The correct description of the relationship is the first one:

  Equation A has a steeper slope, because 4/5 is greater than 2/5.

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