User Account

All Pages

What is the amount of the gain or loss on this transaction

Assignment Help Accounting Basics
Reference no: EM132781845

Questions -

Q1. Which of the following statements is true about the Days' Cash on Hand ratio?

a. The only operating expense used in the denominator of the ratio is depreciation expense.

b. It uses all current assets in the numerator of the ratio.

c. It is not useful in comparing different businesses to one another.

d. It may be useful in determining whether a business is able to meet its cash commitments.

Q2. On December 31, Strike Company sold one of its batting cages for $24,157. The equipment had an initial cost of $268,408 and had accumulated depreciation of $241,567. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?

a. Gain of $2,684

b. Loss of $217,410

c. Loss of $2,684

d. Gain of $244,251

Reference no: EM132781845

Questions Cloud

Describe a recommended solution for problem : The users are pretty technically savvy and can perform tasks themselves, but don't want to give the administrative privileges on their PCs.
Complete an annotated bibliography and major research paper : Write in a style appropriate for an academic discourse community and read numerous scholarly articles. At least five of the articles must be located
Reflect on the effects of western ethnocentrism : Many Westerners engage in a high degree of ethnocentrism which is the belief that one's own culture is superior to all others and that their culture's way.
Explain variable costs per visit that the lab will encounter : List and explain variable costs per visit that the lab will encounter. You have been hired as manager for a new clinical lab company in Atlanta metropolitan
What is the amount of the gain or loss on this transaction : Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction
Prepare issuer journal entry to record initial bond issuance : Using the straight-line method to amortize bond discounts and premiums, (a) prepare the issuer's journal entry to record the initial bond issuance
What relationship personal ethics vs business ethics : Suppose you are a leader responsible for an organization's vision/mission statements. How often do you think they should be changed?
Strategies for managing across cultures-haier approach : Consider and explain the strategies for managing across cultures facing Haier, when referring to the "Internet Exercise: Haier's Approach"
Define in your own words ethical nursing practice : For this discussion you will be examining ethical nursing practice. In three to five paragraphs answer the following questions. Define in your own words.

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