A photocopier cost $102,000 when new and has accumulated depreciation of $90,000. If the business discards this plant asset, the result is ________
A) a loss of $12,000
B) a loss of $11,250
C) a gain of $12,000
D) no gain or no loss
A .Loss on disposal = $102,000 - $90,000 = $12,000
You might also like to view...
The depreciation of factory equipment is adjusted by
a. debiting Depreciation Expense and crediting Factory Equipment. b. debiting Factory Overhead and crediting Accumulated Depreciation-Factory Equipment. c. debiting Accumulated Depreciation-Factory Equipment and crediting Factory Overhead. d. debiting Accumulated Depreciation-Factory Equipment and crediting Depreciation Expense.
Larry Bar opened a frame shop and completed these transactions:1. Larry started the shop by investing $41,500 cash and equipment valued at $19,500 in exchange for common stock. 2. Purchased $220 of office supplies on credit. 3. Paid $2700 cash for the receptionist's salary. 4. Sold a custom frame service and collected $6000 cash on the sale. 5. Completed framing services and billed the client $350. What was the balance of the cash account after these transactions were posted?
A. $45,150. B. $44,930. C. $10,930. D. $10,580. E. $44,800.
Demand for individual products can be driven by product life cycles
Indicate whether the statement is true or false
Lucent TechnologiesBecause AT&T Corporation wanted to become a big player in the booming market for outsourcing computer services, it set up Lucent Technologies to manage corporate clients' worldwide computer networks. Lucent Technologies assists corporations in global network and computer management by drawing on AT&T's worldwide digital network and its computer hardware and software businesses. It also relies on the expertise of technicians at Bell Laboratories.Refer to Lucent Technologies. Consumers utilizing the First National Bank of Chicago to purchase U.S. Treasury bonds will affect the demand for and use of the AT&T network computer system capabilities. This is called:
A. joint demand B. inelastic demand C. derived demand D. fluctuating demand E. elastic demand