User Account

All Pages

What is the amount of gain or loss on the disposal

Assignment Help Accounting Basics
Reference no: EM132647371

Question - Un Company sold office equipment with a cost of $39,950 and accumulated depreciation of $35,298 for $6,670.

a. What is the book value of the asset at the time of sale?

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

c. How would the sale affect net income (increase, decrease, no effect) and by how much?

d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much?

e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section?

Reference no: EM132647371

Questions Cloud

Creating a hand drawn graph on graph paper : Creating a hand drawn graph on graph paper or using the excel program to generate a scatter chart? Why?
Calculate the value of the account one year from now : Adam Smith is thinking about investing $500,000 into an account that guarantees 2.5% interest. Calculate the value of the account one year from now
Type of environment using that type of interdependence : What were the benefits and problems with working in that type of environment using that type of interdependence?
Questions about rutherford nuclear model : What are some unanswered questions about Rutherford's Nuclear Model?
What is the amount of gain or loss on the disposal : Un Company sold office equipment with a cost of $39,950 and accumulated depreciation of $35,298 for $6,670. What is the amount of gain or loss on the disposal
How to calculate the sustainable growth rate : Calculate the sustainable growth rate. You are given the following information for Clapton Guitars, Inc. Profit margin 6%. Total asset turnover 2
Determine the number of moles of o atoms : Determine the number of moles of O atoms in 4.999x10^25 formula units of Mg3(PO4)2
Employing the latest wireless communication techniques : Required to explore the given case study and provide a solution, employing the latest wireless communication techniques
What is the element : An unknown element reacts with iodine to give the iodide, MI3. If 1.443 g of the unknown element gives 21.804 g of MI3, what is the element?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd