On June 30, 2014, a fire in Walnut Company's plant caused the total loss of a production machine. The machine was being depreciated at $20,000 annually and had a carrying amount of $160,000 at December 31 . 2013 . On the date of the fire, the fair value of the machine was $220,000, and Walnut received insurance proceeds of $200,000 in October 2014 . In its income statement for the year ended
December 31 . 2014, what amount should Walnut recognize as a gain or loss on disposition?
a. $0
b. $20,000 loss
c. $40,000 gain
d. $50,000 gain
D
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In an attempt to tailor its products to suit the requirements of consumers in India, LG introduced the aero-comfort system. A remote control is programed to regulate both the air-conditioning and the ceiling fan. Consumers can switch off the AC and increase the ceiling fan's flow once the desired temperature is achieved. This not only increases convenience, but also cuts down electricity charges. LG's aero-comfort system is an example of which of the following?
A) backward invention B) dual invention C) country version product D) straight extension E) communication adaptation
Two jobs (J1 and J2) are scheduled on two workcenters (WCA and WCB). J1 starts at time 0 on WCA and finishes on that workcenter at time 5. J2 starts at time 0 on WCB and finishes at time 3. J2 then starts on WCA at time 5 and finishes at time 9. What is the average queue time of these jobs?
a. 0 b. 1 c. 2 d. Cannot be determined from the information given
Under the Fair Credit Reporting Act:
a. credit reports may be used by potential employers and lenders, but not insurers. b. consumer reporting agencies must notify consumers, orally or in writing, before making an investigative report. c. if a consumer does not agree with information in the file and so notifies the reporting agency, the agency must reinvestigate the matter, even if the agency thinks the complaint is frivolous or irrelevant. d. upon request, each nationwide consumer reporting company must provide a free copy of an individual's credit report once every 12 months.
In making a decision, both ________ and quantitative factors must be considered
Fill in the blanks with correct word