Solution-What is the amount of the gain or loss on the

What is the amount of the gain or loss on the disposal

Assignment Help Cost Accounting

Reference no: EM133040288

Question - Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31.

Cost of equipment = 90000

Useful life in years = 6

Residual value = 0

Date purchased = May 1, 2021

Date of disposal = June 30, 2023

Cash received on disposal = 60000

Required -

1. What is the accumulated depreciation on the date of the disposal?

2. What is the book value of the equipment on the date of the disposal?

3. What is the amount of the gain or loss on the disposal?

Reference no: EM133040288

Questions Cloud

Calculate the contribution margin per unit : Emeka Company has provided the following information: Sales price per unit $44. Calculate the contribution margin per unit

Discuss the role of delivery in building a sense : Discuss the role of delivery in building a sense of community by focusing on the concept of empathy. How does the way a speaker speaks indicate

Crows feet and chen notation in database management : What is the difference between crows feet and chen's notation in database management?

Illegal dumping and whistle-blowing : Joseph is very satisfied with his job at the hotel resort, which is a subsidiary of a well-known international hotel chain. He has been working at the hotel

What is the amount of the gain or loss on the disposal : The business's year-end is December 31. Cash received on disposal = 60000. What is the amount of the gain or loss on the disposal

Master scheduling processes : How can material requirements be reduced through improved master scheduling processes?

Calculate payoffs and emv : Humber Bakery needs to decide how many units of its new Rexdough (nicknamed Rex) bread to bake at the beginning of each day. Because the bakery prides itself a

Digital technology in communication : Describe the use of digital technology in communication, marketing, and advertising issues.

What is the total dividend you will? receive : Question - If you own 11,000 shares of stock of Nike and it pays a dividend of $0.22 per? share, then what is the total dividend you will? receive

User Account

All Pages

What is the amount of the gain or loss on the disposal

Reference no: EM133040288

Reference no: EM133040288

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT