a company has equipment that cost $250,000 and has updated accumulated depreciation of $100,000 when it sells the asset for $125,000. what is the income statement effect of this transaction?
Answers
The income statement effect of this transaction would be a loss of $25,000.
This is calculated by subtracting the sale price of $125,000 from the equipment's net book value of $150,000 ($250,000 - $100,000 accumulated depreciation). Since the sale price is less than the net book value, it results in a loss for the company.
This loss would be reported on the income statement as an expense, which would reduce the company's net income. It is important for companies to regularly assess the value of their assets and calculate depreciation to accurately reflect the true value of their assets on their financial statements.
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Related Questions
Please help
9. Describe preventing/controlling risk in relation to how businesses deal with each of the
following:
a. Safety-
b. Security-
c. Employee incompetence-
d. Product selection-
e. Credit-
f. Changes-
g. Weather extremes-
Answers
a. Safety - Businesses can prevent and control risks related to safety by implementing safety protocols and guidelines, providing adequate training to employees, regularly inspecting equipment and facilities, and promptly addressing any safety concerns.
b. Security - Businesses can prevent and control risks related to security by implementing access control measures, using security cameras and alarms, regularly reviewing and updating their security policies, and training employees on how to identify and respond to security threats.
c. Employee incompetence - Businesses can prevent and control risks related to employee incompetence by providing thorough training and development programs, setting clear performance expectations, and regularly monitoring employee performance and providing feedback.
d. Product selection - Businesses can prevent and control risks related to product selection by conducting thorough research on products, identifying potential risks and liabilities associated with them, and regularly reviewing and updating their product selection policies.
e. Credit - Businesses can prevent and control risks related to credit by establishing credit policies and procedures, conducting credit checks on customers, setting credit limits, and regularly monitoring accounts receivable.
f. Changes - Businesses can prevent and control risks related to changes by conducting thorough risk assessments before implementing any changes, communicating changes to stakeholders, establishing contingency plans, and regularly reviewing and updating their change management policies.
g. Weather extremes - Businesses can prevent and control risks related to weather extremes by implementing weather emergency protocols, regularly monitoring weather forecasts, having emergency supplies on hand, and regularly reviewing and updating their weather emergency plans.
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Preventing and controlling risk in business involves implementing various strategies for different aspects such as safety, security, employee competence, product selection, credit, changes, and weather extremes.
Explanation:Preventing/Controlling Risk in BusinessSafety: Businesses can prevent safety risks by implementing safety measures such as providing proper training, enforcing safety protocols, and conducting regular inspections.Security: Businesses can control security risks by installing security systems, implementing access control measures, and conducting background checks on employees.Employee incompetence: Businesses can prevent employee incompetence risks by providing comprehensive training programs, establishing clear performance expectations, and conducting periodic performance evaluations.Product selection: Businesses can control product selection risks by conducting thorough market research, partnering with reputable suppliers, and performing product testing.Credit: Businesses can prevent credit risks by setting strict credit policies, conducting credit checks on customers, and implementing effective collection procedures.Changes: Businesses can control risks associated with changes by implementing change management strategies, communicating effectively with stakeholders, and conducting impact assessments.Weather extremes: Businesses can prevent or mitigate risks associated with weather extremes by implementing weather monitoring systems, having emergency response plans in place, and investing in appropriate insurance coverage.Learn more about Risk management in business here:https://brainly.com/question/33515955
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According to GAAP, a loss contingency shall be accrued by a charge to income if O it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. O it is poss
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According to Generally Accepted Accounting Principles (GAAP), a loss contingency should be accrued by a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
This principle ensures that financial statements reflect the most accurate and reliable information regarding potential losses or liabilities. GAAP provides guidance on how companies should account for loss contingencies, which are potential losses that are contingent upon the occurrence or non-occurrence of future events. To determine whether a loss contingency should be accrued and recognized in the financial statements, two conditions must be met:
1. Probability: It must be probable that a liability has been incurred. Probable means that the likelihood of the event occurring is more likely than not. This requires a reasonable assessment of the available evidence and judgment to determine the likelihood of incurring the liability.
2. Reasonable Estimate: The amount of the loss must be reasonably estimable. This means that the company must be able to make a reasonable approximation of the potential loss based on available information, such as historical data, expert opinions, or other relevant factors.
If both conditions are met, the company should accrue the loss contingency by recording an expense and creating a liability on the financial statements. This ensures that the financial statements provide a fair and accurate representation of the potential liabilities and their impact on the company's financial position and performance.
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How does 90 benefit payers?
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Employers have options with 90 Degree Benefits, including reference-based pricing, direct facility contracts, concierge medicine, and standard network design.
We provide health plans built on specially developed benefits tailored to the needs of our clients across the nation through 24 offices servicing 560,000 members.
In our opinion at 90 Degree Benefits, a good health plan offers more than simply coverage. You can effortlessly align patients, providers, and payors with our assistance.
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a company hires an outside penetration testing team. a scope is agreed upon, dictating what systems may be involved and what systems may not. the penetration team proceeds with its tasks, all the way up to exploitation, when suddenly a production server is knocked offline. with the possible exception of the authorization, what aspect of penetration testing is now the most critical?
Answers
A production server is abruptly brought offline while the penetration team works through its chores all the way to exploitation. perhaps with the exception of the authorization. Communication is critically important aspect for a penetration testing.
A penetration test, often known as a pen test, is a legitimate simulated assault carried out on a computer system to assess its security. To identify and illustrate the effects of system flaws on the company, penetration testers employ the same tools, strategies, and procedures as attackers.
Penetration testing, often known as pen testing, is a security exercise where a cyber-security specialist looks for and attempts to attack weaknesses in a computer system. By simulating an attack, it is possible to find any security gaps that an attacker may exploit.
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When Randy, a general manager of a national retailer, moved to a different store in his company that was having difficulty, he knew that sales were low and after talking to his employees, he found morale was also low. At first Randy thought attitudes were poor due to low sales, but after working closely with employees, he realized that the poor attitudes were actually the cause of poor sales. Randy was able to discover the cause of the problem by utilizing ______ skills.
Answers
Answer:
Conceptual skills
Explanation:
Conceptual skills are inmate skills that enables one to have an understanding of complex problems or situations and also able to proper solutions to them in a creative manner. It is a skill that enables one to think creatively and proffer solutions to problems in a dynamic way.
When difficult situations arises, conceptual skills creates an initiative approach to those scenarios with a view to solving them hence needed by individuals and managers to effectively guide a business.
As in the above scenario, Randy was able to discover that poor attitude was actually the cause of poor sales among the employees due to the conceptual skill he possesed.
How does saving money help people avoid debt?
A.by helping them reduce interest payments
B. By helping them get approved for loans
C.by helping them apply for credit cards
D. By helping them cover unforeseen expenses
Answers
Answer:
D. By helping them cover unforeseen expenses
how do basic level occupation help society
Answers
Answer:
A job, employment, work or occupation, is a person's role in society. More specifically, a job is an activity, often regular and often performed in exchange for payment ("for a living"). Many people have multiple jobs (e.g., parent, homemaker, and employee). A person can begin a job by becoming an employee, volunteering, starting a business, or becoming a parent. The duration of a job may range from temporary (e.g., hourly odd jobs) to a lifetime (e.g., judges).
Basic level occupation can help our society in many ways. One of them is agricultural. A further explanation is provided below.
Agriculture would be essential employment across the globe even though it's the foundation or the core of all certain vocations, even though people must live.Otherwise, there'll be no significant population for any other activity, resulting in highly impoverished as well as uneducated people throughout the planet."
There are many jobs that a person can do like employee, homemaker, etc. A person can start his career with such jobs.
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What is the primary goal of blogs written for organizations and aimed at external audiences?.
Answers
The main motive or the primary goal of a blog, which is written for organizations and is aimed at external audience, is to create effective public relations.
What is a blog?A textual form of an article, which is written in a way that not formal, whereas, it builds a conversation between the blogger and the reader, are known as blogs.
Hence, the significance of blogs is aforementioned.
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Employee Pensions (LO 5.4)
Tony is a 45-year-old self-employed psychiatrist who has net earned income of $300,000 in 2018. What is the maximum amount he can contribute to his SEP for the year?
$ 53,000 x
Answers
The maximum amount Tony can contribute to his SEP (Simplified Employee Pension) for the year is calculated based on a percentage of his net earned income. As a self-employed psychiatrist, his net earned income for 2018 is $300,000.
The maximum contribution limit for a SEP is the lesser of 25% of his net earned income or $55,000 for the year. However, there is an annual compensation limit that Tony needs to consider. For 2018, this limit is $275,000.
To calculate the maximum contribution, Tony would need to take 25% of his net earned income, which is $300,000 * 25% = $75,000. However, since this exceeds the annual compensation limit of $275,000, the maximum amount Tony can contribute to his SEP for the year is $275,000.
Therefore, the maximum amount Tony can contribute to his SEP for 2018 is $275,000.
It's important to note that these limits are subject to change each year, so it's always a good idea to consult the latest IRS guidelines or a tax professional for the most accurate and up-to-date information.
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A Sign That Ethics Has Become A Primary Concern For Boards Of Directors Is That Multiple Choice Directors Area. More Often Chosen For Their Political Connections Than For Their Expertise b. Modern Executive Compensation Is Closely Linked To The Firm's Employee Retention Rate. C. Poor Financial Performance Is The Most Common Reason For CEOs To Be Fired Saved Help
Answers
Modern executive compensation is closely linked to the company's employee retention rate.
To elaborate: Ethical behavior toward employees is one of the primary responsibilities of the Board of Directors. They shouldn't be fired for little things. They should be given a chance to grow and develop.
2. the environment in which a manager works In addition to their social and ethical responsibilities, managers need to be aware of the environment in which they operate. If the business is to be viable and successful in the long run, they must take into account all of these factors.
What does "Board of Directors" mean?A board of directors is a group of people who represent the interests of shareholders. In addition, it offers advice to an organization's chief executive officer and executive team. A board provides general oversight of operations without getting involved in the day-to-day operations.
The hiring of the company's CEO or general manager and the evaluation of the company's overall strategy and direction are the board of directors' primary responsibilities. The CEO or general manager is responsible for hiring all other employees and overseeing the business's day-to-day operations.
The majority of the board of directors consists of the chief executive officer and occasionally other senior managers, as well as board members who are not otherwise associated with the company. The most common definition of an inside director is an employee of the company, though significant shareholders may also be included from time to time.
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What are some of the duties of a person who works in housekeeping services? Check all of the boxes that apply.
creating computer reports
washing linens
providing services to patients
mopping up spills from the floor
Answers
Answer:
2 4
Explanation:
Which type of insurance can help provide financial support to beneficiaries when someone dies?
Collision
Health
Life
Property
Answers
The type of insurance that can help provide financial support to beneficiaries when someone dies is Life Insurance.
This is because Life insurance is a type of insurance in which the surviving dependents of the person whose life is insured get financial supports following the death of an insured policyholder.
In a Life Insurance deal, the surviving dependents usually get a certain amount of money, often termed a death benefit.
The surviving dependents must, however, be named the life insurance policy before he or they can reap the benefits.
Hence, in this case, it is concluded that the correct answer is Life Insurance.
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can someone please help me i will mark the first person that gives me the help i am looking for the brainlyest
Answers
Answer:
you should have made the screen shot small so that they cant see your name
Explanation:
also these are links so i dont know how to help with this
dude please charge ur phone
What are 3 key takeaways you have about investing in a 401(k) plan that will help you when you’re ready to make this decision in the real world?
Answers
Explanation:
1. Always be sure to contribute enough to a 401(k) to qualify for matching contributions from your employer.
2. Be aware of the underlying costs and fees of the various investments within your retirement plan.
3. You can contribute to both a personal IRA and a 401(k) plan at work.
A 401(k) plan is a type of retirement savings plan sponsored by an employer. It allows employees to contribute a portion of their pre-tax salary to a retirement account, which is then invested in a selection of mutual funds, stocks, bonds, and other assets.
These contributions and the earnings on them grow tax-deferred until they are withdrawn, typically in retirement.
One of the key benefits of a 401(k) plan is that many employers offer a matching contribution, which can help boost the account balance.
Additionally, 401(k) plans often offer a range of investment options and allow for convenient automatic contributions, making it easier for individuals to save for retirement. However, there may be fees associated with the plan, and early withdrawals may result in penalties.
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beginning work in process inventory 30,000 100% 80% units started this period 190,000 units completed and transferred out 163,000 ending work in process inventory 57,000 100% 80%
Answers
The beginning work in process (WIP) inventory is given as 30,000 units, which are 100% complete. This means that these units were partially completed in the previous period and are now carried forward to the current period.
During current period, 190,000 units were started. Out of these, 163,000 units were completed and transferred out. This means that these 163,000 units were fully processed and moved to the next stage or department in the production process.
The ending work in process (WIP) inventory is given as 57,000 units, which are 100% complete. This means that these units are partially completed in the current period and will be carried forward to the next period.
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Is an HIE needed at all healthcare
facilities?
Is this type of scenario reported to
anyone?
What steps/ processes can be implemented to prevent a
scenario like this from happening to future patien
Answers
Health Information Exchange (HIE) is an organization that enables doctors, nurses, pharmacists, healthcare providers, and patients to access and share patient data electronically.
HIE helps in providing an appropriate care plan for patients and in reducing the cost of healthcare. It is an important tool for better care coordination between different healthcare providers involved in the patient’s careHIE is not mandatory, but it is highly recommended in healthcare facilities for better care coordination and quality of care.
HIE is most useful in emergency situations, where the patient’s medical history and other relevant information is needed to provide appropriate care.
confidential.
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Cathy, Don, and Ethel are partners in Fruit Orchard Farms. Cathy gives notice to quit the firm, which otherwise continues to do business. This is
Answers
When a partner does what Cathy did and the partnership continues regardless, this is known as a Dissociation.
A Dissociation in a partnership:
Means that a partner no longer wishes to be part of a partnership The partner loses their management rights Might not absolve the partner of partnership liabilitiesBecause the business kept going even after Cathy gave notice to quit, this is known as a dissociation and not a dissolution which would have ended the partnership.
In conclusion, this is a dissociation.
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What is the interest owed on a loan of $100 at 10% for 3 months?
Answers
Answer:
$2.50
Explanation:
The information is somewhat incomplete. It does not state whether simple or compound interest which could make a difference
I am assuming simple interest
The formula for simple interest is
I = Prt
where I is interest
P is amount of loan
r is annual rate of interest expressed as a decimal
t = number of years
We are given
P = $100
r = 10$ = 10/100 = 0.10
t = 3 months = 3/12 year = 1/4 th of a year
I = 100 x 0.10 x 1/4 = $2.50
The amount of increase or decrease in cost that is expected from a particular course of action as compared with an alternative is:
Answers
Answer:
Differential cost
Explanation:
Differential cost is defined as variance in cost that will be incurred between two courses of action. This is used to evaluate the best option of two investments under consideration.
The option that has more revenue will have less cost. So differential cost calculation is used to determine line of action that will bring least cost.
For example if one alternative action will entail use of a warehouse of $30,000, and the alternative is to use just in time inventory practice thereby requiring $10,000 in storage cost.
The best option is the just in time option
5. The demand for professional education is increasing these days. Put your views to support the
statement.
Answers
Answer:
Professional education helps to rectify the errors in business
Explanation:
What are the three ways the argument section of a cover letter can be formatted
Answers
what is a compounding period?
Answers
Answer:
Compounding periods are the time intervals between when interest is added to the account.
Explanation:
Interest can be compounded annually, semi-annually, quarterly, monthly, daily, continuously, or on any other basis.
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Ralph is leasing a $32,000 car for 36 months. The terms of his lease include an 8. 5% interest rate (money factor of 0. 00354) and a residual value of 72%. Determine Ralph’s approximate monthly lease payment. A. $145. 00 b. $230. 40 c. $248. 89 d. $443. 73.
Answers
The correct statement will be that the monthly lease payments that Ralph will have to make to lease such a car will be $362.17. So, the correct option that matches the statement is not quoted above.
The calculation of monthly lease payment can be done by deduction of residual value and dividing such value by number of months.
Calculation of monthly lease paymentsThe residual value can be calculated by using the formula by applying the given information, \(\rm Residual\ Value= Original\ Value\ x\ \% of Residual\ Value\\\\\rm Residual\ Value=32000\ x\ 72\%\\\\\rm Residual\ Value=\$23040\)So, depreciation of the car after three years will be $8960. Interest payment per month will be calculated as, \(\rm Monthly\ Interest= Car\ Value\ x\ Money\ factor\\\\\rm Monthly\ Interest=32000\ x\ 0.00354\\\\\rm Monthly\ Interest=113.28\)And the payment towards actual lease would be, \(\rm Actual\ Payment= \dfrac{Depreciation}{no.\ of\ Months}\\\\\rm Actual\ Payment= \dfrac{8960}{36}\\\\\rm Actual\ Payment= \$248.89\)So, total monthly payment towards leasing such car will be, \(\rm Total\ Payment= Actual\ Payment+ Interest\ Payment\\\\\rm Total\ Payment=248.89+113.28\\\\\rm Total\ Payment=\$362.17\)
Hence, the correct statement is that the monthly payment towards the lease of car by Ralph will be $362.17 and none of the options given is correct.
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Answer:
✅ D. $443.73
its correct ⬇️
since NJ is a small state with an economy linked to nearby states that is
Answers
Answer:
Chlorine
Explanation:
Julia owes her dad $12. She wants a new blouse that just went on sale, so she borrows $20 from her sister. She pays her father $5 and spends the rest on the blouse. Which statement is true? Julia’s money status is $8 because she started at –$12 and borrowed $20. Julia’s money status is –$7 because she started at –$12, got $20, but only paid $5 of her debt. Julia’s money status is –$27 because she started at –$12, borrowed $20, but paid off $5. Julia’s money status is –$32 because she began at –$12 and borrowed $20.
Answers
Answer:
I would say -27? I think that would work out as she still owes her father 7 as well as her sister 20
Answer:
C ON EDGE
Explanation:
Item 2 Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 8,640,967 06/30/2021 $ 300,000 $ 345,639 $ 45,639 8,686,606 12/31/2021 300,000 347,464 47,464 8,734,070 06/30/2022 300,000 349,363 49,363 8,783,433 12/31/2022 300,000 351,337 51,337 8,834,770 What is the carrying value of the bonds as of December 31, 2022
Answers
Answer:
$8,834,770
Explanation:
Calculation to determine the carrying value of the bonds as of December 31, 2022
Based on the information given the CARRYING VALUE OF THE BONDS as of December 31, 2022 will be 12/31/2022 CARRYING VALUE which is the amount of $8,834,770
Therefore The carrying value of the bond as of 31st December, 2022 is $8,834,770.
business letters are a primary channel of communication for delivering messages to recipients outside of an organization. they are powerful tools that can project a positive image of your company, encourage product feedback, and promote future business. when are business letters necessary? check all that apply. communication is with the government. a permanent record is required. recipients are located in another country. persuasive, well-considered presentation is important. formality and sensitivity are essential.
Answers
Business letters are necessary when communication is with the government, a permanent record is required, recipients are located in another country, persuasive, well-considered presentation is important, and formality and sensitivity are essential.
Business letters provide an effective way to communicate with recipients located outside of an organization. They are a powerful tool to present a positive image of your company, encourage product feedback, and promote future business.
When communication with the government, a permanent record is necessary, recipients are located in another country, persuasive, well-considered presentation is important, or formality and sensitivity are essential, business letters are necessary. Business letters are formal documents that are composed using a specific structure and format.
They should be concise and direct while also conveying the message in a clear and professional manner. Additionally, they should use a formal tone and language to ensure they are respectful and courteous.
They should also include all relevant information, such as contact details, that are necessary for the recipient to act upon the letter. Finally, they should be proofread carefully to ensure accuracy and no typos are included.
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service is the rent we pay for living on this earth
Answers
The statement given "service is the rent we pay for living on this earth" is true because service is the rent we pay for living on this earth.
The statement "service is the rent we pay for living on this earth" holds truth in the sense that service to others and the world around us is a fundamental responsibility we have as inhabitants of this planet. Service goes beyond merely occupying physical space; it is a way to contribute, give back, and make a positive impact on the lives of others.
When we engage in acts of service, whether through acts of kindness, volunteering, or making a difference in our communities, we acknowledge our interconnectedness and the shared responsibility to make this world a better place. Service allows us to express gratitude for the privileges and resources we have been blessed with by utilizing them to uplift and support others.
Ultimately, by recognizing service as a form of rent, we embrace the idea that our existence on this earth comes with the obligation to contribute to its well-being and the welfare of all its inhabitants.
""
service is the rent we pay for living on this earth. true false
""
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They help to provide goods and services to the people. one advantage of government involvement in the economy is to try to keep things fair and unemployment low.
Answers
Governments maintain competition, offer public products and services, allocate income, account for externalities, and fix the economy in addition to providing the legal and social framework.
What goods and services does the government provide and how?The benefits of a command economy include low levels of income inequality and unemployment as well as the shared goal of displacing profit with equality as the main driving force behind production. Lack of competition, which can result in a lack of innovation, and inefficiency are disadvantages of command economies.
Almost everywhere, the government has a significant impact on the provision of services including environmental and fire prevention, transportation, education, and national defense. They are commonly referred to as "public utilities."
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