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 square root of 121.

Answers

Answer:

The answer is 11 your welcome

Answer:

11

Step-by-step explanation:

What is the mass of 64 mL of a liquid with a
density of 2.7 g/mL?

Answers

Answer:

172.8

Step-by-step explanation:

to get density its mass over volume so if you mutiply volume by density you get the mass

I need helpppp with 1-9

Answers

Hi!! What do you need help with? Solving the problems? Or understanding them? Also 1-9 is a bit blurry, so if you could retake it and repost it, I could solve for them. :). But if you don’t want to, don’t worry.

How to solve absolute value inequalities khan academy.

Answers

Answer:

Step-by-step explanation:

I cant even see anything can you reupload your answer, please?

Hello.My question is......what are my chances of rolling a 4 when i throw a dice if i rollo it two times?

Answers

Answer:

Step-by-step explanation:

3

Answer:

1/6 because wanting to roll a four every time you roll a dice is going to be a 1.6 chance since there is only one 4

Step-by-step explanation:

-8(-6x+w-4) distributive property

Answers

Answer:

48x-8w+32

Step-by-step explanation:

Multiply -8 to every factor in the equation

(-8)(-6x) +(-8)w (-8)(-4)

48x -8w +32

Hope this helps :)

Help please I rlly don’t understand

Answers

a) 2

b) 93

that's the answer

Please help!
.
.
.
.
.

Answers

Answer:

9

Step-by-step explanation:

To calculate the value of x we must first understand the total value of all angles in a triangle.

Sum of all angles in a triangle = 180 degrees

That said, we need to write an equation for the total number of degrees in the triangle and solve for x

This will be as follows:

(13x+2)+(5x-7)+(3x-4)=180

The we combine the like terms. This will be as follows:

(13x+5x+3x)+(2-7-4)=180

Simplify further to get

21x-9=180

Simplify further by collecting all like terms on one side of the equal. This will entail the addition of 9 on each side of the equal sign as follows:

21x-9+9=180+9

you will find 21x=189

Simplify further by dividing both sides of the equal sign by 21 to solve for x

21x/21=189/21

Therefore x=9

You have 20 quarters. You find 40% more in your room. Then you go to the store and spend 50% of them. How much money do you have left? please answer the question without a link

Answers

Answer:

14

Step-by-step explanation:

First fond 40% of 20

20×40/100 = 8

So now there is a total of 20+8 =28

At the store you spend exactly half

28×50/100 =14

So now you are left with 28-14 =14

CAN SOMEONE HELP ME PLEASE ASAP!

Answers

Answer:

P and R

Step-by-step explanation:

P and R are similar because R is the same thing as P but 2 times bigger.

Which number sentence is true?

Answers

Answer:

B

Step-by-step explanation:

Edge 2021.

D! -3 1/8 is greater than -81/6= -13.5

100 POINTS IF U GET DIS RIGHT!

Answers

Answer:

[tex]- \frac{3}{5}[/tex]

Step-by-step explanation:

slope-intercept form: y = mx + b

y = (x , y)

m = slope = [tex]-\frac{3}{5}[/tex]

x = (x , y)

b = y-intercept = [tex]- \frac{7}{9}[/tex]

With this given information, your slope will be [tex]-\frac{3}{5}[/tex]

Answer:

-3/5

Step-by-step explanation:

The answer is -3/5 I think

please help i'm so confused
P: It's sunny.
Q: It's snowing.
R: It's not raining
Translate the following symbols: ~ RAQ
O If it's raining, then it's snowing.
O If it's not raining, then it's sunny.
O It's raining and it's snowing
O It's raining or it's snowing

Answers

Answer:

if it's bot raining, then it's sunny

If (8^2)P = 8^4, what is the value of p?

Answers

Answer:

The answer is 2

First, we simplify it to 64^p = 4096.

Then, take the log of both sides:

p = log (4096) / log (64)

p = 2

Please mark brainliest i need 1 more

Step-by-step explanation:

How to factor a polynomial with a degree of 4.

Answers

Answer:

We can factor a difference of fourth powers (and higher powers) by treating each term as the square of another base, using the power to a power rule. For example, to factor x4 - y4, we treat x4 as (x2)2 and y4 as (y2)2. Thus, x4 - y4 = (x2)2 - (y2)2 = (x2 + y2)(x2 - y2) = (x2 + y2)(x + y)(x - y).

The value of a new car in 2015 was 40,000 dollar. It depreciates each year by 7%. How much will the car be worth in 2026?

Answers

Answer: $30,800

Step-by-step explanation: First you have to subtract 2026 - 2015, which is 11 years. Since it depreciates by 7% each year, you would multiply 7 by 11, which is 77. 77 is the percent of depreciation of the car. After that, you would divide 40000 by 100, which is 400. Then you multiply 400 by 77 to get you final answer.

Rob is saving to buy a new MP3 player. For every $13 he earns babysitting, he saves $9. On Saturday, Rob earned $52 babysitting. How much money did he save?

Answers

52 divided by 13=4
4x9=36
He saved $36

Answer:

$36

Step-by-step explanation:

$13 babysitting, $9 saved.

$52 babysitting, $x saved.

Cross multiply

13/13x=468/13

Divide both sides by 13

x=$36

the rate of change is _____ inches of growth per week​

Answers

Answer:

4.5 inches per week

Step-by-step explanation:

Easy conversions

how what is 3/56 as a percentage​

Answers

5.4% rounded up to 1 decimal point

Answer:

5.4% rounded to the tenths place.

Reasoning:

To convert 3/56 to a percentage, multiply the decimal version of 3/56 by 100.

Estimated, 3/56 as a percentage is 5.4%

find the sum of the first 7 terms of the geometric sequence : 3,9,27,81,...

(with solution)

PA HELP POOO THANKSSSS

Answers

Answer:

3279

Step-by-step explanation:

The sum to n terms of a geometric sequence is

[tex]S_{n}[/tex] = [tex]\frac{a(r^n-1)}{r-1}[/tex]

where a is the first term and r the common ratio

Here a = 2 and r = a₂ ÷ a₁ = 9 ÷ 3 = 3 , then

S₇ = [tex]\frac{3(3^7-1)}{3-1}[/tex] = [tex]\frac{3(2187-1)}{2}[/tex] = 1.5 × 2186 = 3279

Two boats leave the same port at the same time. One travels at a speed of 28 mi/h in the direction N 50° E, and the other travels at a speed of 26 mi/h in a direction S 70° E (see the figure). How far apart are the two boats after 1 h? (Round your answer to the nearest mile.)

Answers

Answer:

  27 miles

Step-by-step explanation:

The law of cosines can be used to find the distance between the boats. In 1 hour, one has traveled 28 miles, and the other has traveled 26 miles. The angle between their directions of travel is ...

  180° -50° -70° = 60°

Then the distance c can be found from ...

  c^2 = a^2 +b^2 -2ab·cos(C)

  c^2 = 28^2 +26^2 -2·28·26·cos(60°) = 732

  c = √732 ≈ 27.055

The boats are 27 miles apart after 1 hour.

please help me out yall!!​

Answers

Answer:

c

Step-by-step explanation:

A mural's height is 2 1/4
meters. Which of the following is equivalent to 2 1/4 meters? ​

Answers

Answer:

you didnt give any options

Find the volume v of the solid obtained by rotating the region bounded by the given curves about the specified line. Y = 27x3, y = 0, x = 1; about x = 2.

Answers

The volume of the solid of revolution is [tex]\frac{1674\pi}{5}[/tex] cubic units.

The volume of the solid of revolution can be determined by the following integral equation:

[tex]V = 2\pi\int\limits^a_b {|f(x)-g(x)|} \, dx[/tex] (1)

Where:

[tex]g(x)[/tex] - Lower bound function[tex]f(x)[/tex] - Upper bound function[tex]a[/tex] - Upper bound[tex]b[/tex] - Lower bound

If we know that [tex]b = 2[/tex], [tex]b = 1[/tex], [tex]g(x) = 0[/tex] and [tex]f(x) = 27\cdot x^{3}[/tex], then the volume of the solid of revolution is:

[tex]V = 2\pi\int\limits^2_1 {x\cdot |27\cdot x^{3}-0|} \, dx[/tex]

[tex]V = 54\pi \int\limits^2_1 {x^{4}} \, dx[/tex]

[tex]V = 54\pi \left(\frac{2^{5}}{5}-\frac{1^{5}}{5} \right)[/tex]

[tex]V = \frac{1674\pi}{5}[/tex]

The volume of the solid of revolution is [tex]\frac{1674\pi}{5}[/tex] cubic units.

To learn more on solids of revolution, we kindly invite to check this verified question: https://brainly.com/question/338504

Pizza is sold at a restaurant in 3 sizes: small (S), medium (M), and large (L). Customers can choose from 4 toppings to be used on a 1-topping pizza. The 4 toppings are green peppers (G), ham (H), pepperoni (P), and olives (O).

A customer plans to order a large or medium 1-topping pizza with any topping except pepperoni (P).

This sample space shows all the types of 1-topping pizzas. Which outcomes in this sample space show the types of pizza the customer may order?

Select all correct outcomes

Answers

Using the given sample space, it is found that the types of pizza the customer may order is: {MG, MH, MO, LG, LH, LO}

The sample space is the set that contains all possible outcomes.

In this problem:

The pizza is large or medium, hence the first letter has to be M or L.The topping is any except pepperoni, hence, the second letter is G, H or O.

Thus, the possible outcomes are: {MG, MH, MO, LG, LH, LO}

A similar problem is given at https://brainly.com/question/14798120

hi! can someone please help me with these i’m confused on how to answer it

Answers

Answer:

Step-by-step explanation:

The bookstore sold coloring books for $4. They are on sale for $1. Find the percent decrease.​

Answers

Step-by-step explanation:

4 -1=3 so 4divided by 3= 1.33 so 1.33 as a percent is 133%

3/10y - 2/5 i need to find the coefficient and i dont know how

Answers

[tex] \frac{3}{10y} - \frac{2}{5} = \frac{3 - 4y}{10y} [/tex]

Please solve: 6x - y = -1

Answers

Answer:

y=6x-1

Step-by-step explanation:

6x - y = -1

-y = -1 -6x

y = 6x+1

Answer:

y = 6x + 1

Step-by-step explanation:

hope it helps

should I show steps?

In an attempt to predict a single response variable y, three models are estimated. The standard error of the estimate for Model 1 equals 10, for Model 2 equals 100, and for Model 3 equals 1000. According to the standard error of the estimate, which model provides the best fit

Answers

Ummm 133/2 it the square root of 69 so the absolute value is 42. 0
Other Questions
help please i need to turn this in please help why do you think colonists themselves British subjects rather than Americans Can someone plz help I will mark Brainliest. which chamber approves presidential nomination How did environmental changes and new technologiesaffect the development of agriculture? Simplify.5x+3(x+2)+3A. 8x + 9B. 5x + 8C. 8x + 5D. 6x + 8 Simplify the expression. I need help with finding the slope. Use distributive property to remove the parentheses. Simplify your answer as much as possible please. PromptWrite a short story that starts with this line: I should haveknown it was a bad idea, but that didn't stop me. An airline ticket costs $40.The price is increased by 200%. Work out the absolute increase. I really need help on this question since my test is timed, this would be for edge 2o21.The lady had now brought the water, which thesoldier drank. He thanked her ceremoniously,bowed to her husband and rode away. An hourlater, after nightfall, he repassed the plantation,going northward in the direction from which hehad come. He was a Federal scout.Based on the excerpt, which is the mostreasonable plot prediction?A. Farquhar may unknowingly walk into a trap.B. Farquhar will pursue the soldier from theNorth.C. Farquhar and the soldier may engage in analtercation.D. Farquhar and his wife will forget about thesoldier. Read this excerpt from Chapter 1 of I Know Why the Caged Bird Sings by Maya Angelou and answer the question.When I was three and Bailey four, we had arrived in the musty little town, wearing tags on our wrists which instructed To Whom It May Concern that we were Marguerite and Bailey Johnson Jr. Negro passengers, who always traveled with loaded lunch boxes, felt sorry for the poor little motherless darlings and plied us with cold fried chicken and potato salad.Deducing from the diction, which of the following are possible audiences for the memoir? Select all that apply.train conductors and passengersCaucasian adults interested in American historychildren of three and four years of age like ones in the memoirAfrican-American adults from the South who can relate to Angelous storyLinks will be reported!!!! Can someone please help? Im in a rush and my brain cant process things well right now. Evaluate.(2)4Enter your answer in the box.PLEASE HURRRY AND HELP ME!!! Which is the quotient for 0.9 divide by 0.75 How many double bonds does CCL2H2 have? Where is the blue dot on the number line ? PLZZZZ HELPP I WILL MARK BRAINLYEST In which ways are the friends the same at the end of the story as they were at the beginning? In which ways are they different after they see the presentation? They want to become doctors. Ways they stay the same Ways they are different at the end They are close friends. They have a pact with each other. They are focused on a goal. please helpWhat does Zara give to David? A. A gift.B. A birthday cakeC. A greeting card.D. A surprise