record the sale of tractor.faucet landscaping purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. faucet recorded depreciation using the straight-line method, a five-year service life, and a $2,000 residual value. tractors are included in the equipment account.
Answers
The Accumulated Depreciation - Equipment account has a credit balance, so we need to debit it to eliminate it from the books. Cash is debited for the amount received in the sale, and Equipment is credited to remove the asset from the balance sheet.
To record the sale of the tractor, the following journal entry should be made:
Debit: Accumulated Depreciation - Equipment $28,000(To eliminate the accumulated depreciation related to the tractor)
Debit: Cash $18,000(To record the cash received from the sale)
Credit: Equipment $36,000(To eliminate the cost of the tractor)
Credit: Gain on Sale of Equipment $10,000(To record the gain on sale of the tractor)
Since the tractor was sold for $18,000, the company recorded a gain on the sale of $10,000 ($18,000 sale price - $8,000 book value). To calculate the book value, we need to first calculate the annual depreciation expense, which is ($36,000 - $2,000) / 5 = $6,800. Over three years, the accumulated depreciation would be $20,400 ($6,800 x 3). Therefore, the book value of the tractor at the time of sale is $8,000 ($36,000 - $20,400).
Finally, the Gain on the Sale of the Equipment account is credited for the amount of the gain on the sale.
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Related Questions
What term is used to describe spread-out or low-density development beyond the edge of services and employment
Answers
Answer:
Sprawl
Explanation:
Sprawl can be defined as the situation where an urban settlement expands into nearby country area at the edge of a city .
Factors that lead to sprawl are population and income growth, low cost of living , road network , unlimited use of auto, etc.
Urban sprawl is characterized by uncoordinated , haphazard,and poorly planned urban development. If not properly managed , these could lead to poor environmental conditions like air pollution ,ground level smog and car traffic.
Question 3 of 20
International accountants need to keep track of
and gains when doing business in other countries.
OA. business success rates
B. exchange rates
OC. unemployment rates
OD. gross domestic product growth rates
which can affect losses
Answers
The International accountants need to keep track of the exchange rates and gains when doing business in other countries.
Why are exchange rates and gains important?These are important because this can affect the level of gains because the currency values in exchange differs.
Hence, they need to keep track of the exchange rates and gains when doing business in other countries.
Therefore, the Option B is correct.
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Which of the following approaches to job design has its roots in organizational psychology and management literature?
A.
Motivational approach
B.
Mechanistic approach
C.
Biological approach
D.
Perceptual-motor approach
E.
Cognitive task analysis approach
Answers
The Motivational Approach to job design has its roots in organizational psychology and management literature.
Here is correct answer A
This approach to job design focuses on enhancing employee motivation and engagement by tailoring jobs to best suit their needs and interests. The main idea behind the Motivational Approach is to ensure that the job has intrinsic rewards that motivate employees to perform their best. This might include offering autonomy or control over the job, providing meaningful tasks and challenges, or allowing for creativity and innovation.
Research has shown that when employees feel their job is meaningful and challenging, they are more likely to be engaged and motivated to perform their tasks. Additionally, the Motivational Approach takes into account the different needs and interests of employees, as well as how they perceive their roles and responsibilities.
By understanding these factors, employers can design jobs that are more satisfying and motivating to employees. In conclusion, the Motivational Approach is an effective tool for job design that focuses on enhancing employee motivation and engagement.
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career question #35 easy
Answers
Under the Investment Advisers Act of 1940, cash payment to a broker-dealer from an investment adviser in return for client referrals is A) not permitted under any circumstances B) permitted with no restrictions C) permitted if the investment adviser makes certain disclosures to the clients and meets other requirements D) permitted if the investment adviser and broker-dealer are affiliated
Answers
Answer:
It's A.
Explanation:
Supporters of globalization argue that bodies such as the World Trade Organization and the United Nations exist to serve the collective interests of member states, not to subvert those interests.
a. True
b. False
Answers
Answer:
True.
Explanation:
Supporters of globalization argue that bodies such as the World Trade Organization and the United Nations exist to serve the collective interests of member states, not to subvert those interests.
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
The world trade organization (WTO) is an intergovernmental organization that set rules, policies and regulates global trade across the world.
Also, the United Nations is an intergovernmental organization that is set to foster security, unity, and peace among its member nations across the world.
Hence, these two organizations exist to serve the collective interests of member states and not otherwise.
How has Chinese economic growth benefited the Australian economy?
Answers
Answer:
First, rising wages and consumer demand will increase demand for more sophisticated manufactured goods (where Australia has some niches of excellence, for example, in medical devices) and for services such as tourism (where China is already an important market).
( I found this on a website called Aph.gov.au
full credit to them and their work. Check them out for more info on your topic)
THIS IS URGENT- How did Jeff bezos change the economy when he created Amazon (I need when he first created it up to now!)
Answers
Jeff Bezos when he created Amazon had a tremendous impact in the economy as he created jobs more than any other company had created before and also helped in achieving price stability.
What is Amazon?
Digital streaming, cloud computing, online advertising, and artificial intelligence are the main areas of interest for the American multinational technology business Amazon.com. One of the most valuable brands in the world, it has been called "one of the most significant economic and cultural forces in the globe." Along with Alphabet, Apple, Microsoft, and Meta, it is one of the Big Five American technological firms. On July 5, 1994, Jeff Bezos launched Amazon from his garage in Bellevue, Washington. It began as an online book store but has since grown to include many more product categories.
Hence, Amazon contributed to the economy in terms of sales, price stability and creation of jobs and also providing a alternate option for marketplace in a economy.
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Question:A wealthy retired investor is interested in buying Agency mortgage backed securities collateralized by 30-year mortgages as an investment that will give additional retirement income. When discussing this with the client, you should advise him that if market interest rates fall:
Answers
If market interest rates fall, it can have both positive and negative implications for Agency mortgage-backed securities (MBS). Here are the potential effects that you should advise the client:
Increase in MBS prices: When market interest rates decline, the value of existing fixed-rate mortgages held by MBS increases. This is because the lower rates make the existing mortgages more attractive and valuable. As a result, the prices of Agency MBS tend to rise.
Reinvestment risk: Falling interest rates can also lead to reinvestment risk for investors in MBS. As homeowners refinance their mortgages at lower rates, the cash flows from the underlying mortgage pool may decrease. This can impact the income generated by the MBS, potentially reducing the retirement income for the investor.
Extension risk: On the other hand, falling interest rates may increase the duration of MBS. Homeowners are less likely to refinance their mortgages when rates are higher, but as rates fall, they are more likely to refinance and pay off their existing mortgages. This can extend the duration of the MBS and delay the return of principal to the investor.
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how can national insurance affect a pharmacy business?
Answers
Answer:
Achieving universal health coverage will require robust private sector engagement; however, as many low- and middle-income countries launch prepayment schemes to achieve universal health coverage, few are covering products from retail drug outlets (pharmacies and drug shops). This case study aims to characterize barriers and facilitators related to incorporating retail drug outlets into national prepayment schemes based on the experience of the Tanzanian National Health Insurance Fund’s (NHIF) certification of pharmacies and accredited drug dispensing outlets.
Which one of the following could not be called income?
Answers
Answer: where is the question
Explanation:
If the gross rating points of a popular talk show are 89 and the reach is 56, what is the frequency at which the viewers will watch advertisements that air during the show?
A.
1.4
B.
1.7
C.
1.5
D.
1.8
E.
1.9
Answers
If the gross rating points of a popular talk show are 89 and the reach is 56, the frequency at which the viewers will watch advertisements that air during the show will be 1.5.
In traditional ad buying, the gross rating point (GRP) is a standard metric for gauging the effectiveness of a particular advertising campaign. The number of times a target audience sees the advertisement is multiplied by the proportion of impressions that represent that audience in GRPs.
Reach (%) + GRPs (%) + Average frequency (#) = GRPs (%) Two instances: A campaign has 12 x 5 = 60 GRPs if, on average, 12% of viewers watch each episode of a television show, and an advertisement is put on 5 of those episodes.
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The options strategy of a Bull Put Spread is best described by: Short a call with a strike price higher than the put you are long, on the same underlying asset Long a put with a strike price lower than the put you are short, on the same asset None of the answers Long a put with a strike price higher than the put you are short, on the same underlying asset Short a put with a strike price lower than the call you are long, on the same underlying asset
Answers
Answer:
Long a call with a strike price lower than the call you are short, on the same underlying asset
Explanation:
A bull put spread would involve one short put having a high strike price and 1 long put having a less strike price. It would be created for the net amount collected and the profits arise from increase in the stock price or from time erosion or from both the things
The option strategy that should be best described is that the call would be long having a strike price less than the short call for the similar underlying asset
Peeta works for the Panem Bureau of Economic Analysis. Panem produces three goods: porridge and clubs, as well as oats, which is used to make porridge. The table below records the quantities and market prices of each good produced in 2020.
Good produced Quantity Market price
(in dollars)
porridge 7,500.00 bowls 7.00 oats 1,875.00 bushels 2
clubs 800.00 clubs 95.00
Assuming Panem does not produce anything else in 2020, GDP is equal to $ .
Part 2 See Hint
Assume that from 2020 to 2021, Panem's GDP grows by 20.00% and that the population of Panem grows from 200 to 218.00. Therefore, Panem's per capita GDP growth is % (round your answers to two decimal places).
Answers
Therefore, the GDP for Panem in 2020 is $132,250.
Therefore, Panem's per capita GDP growth is approximately 7.57%.
To calculate the GDP for Panem in 2020, we need to sum up the value of all goods produced. GDP is calculated by multiplying the quantity produced by the market price of each good and then summing them up.
GDP = (Quantity of porridge produced × Market price of porridge) + (Quantity of oats produced × Market price of oats) + (Quantity of clubs produced × Market price of clubs)
GDP = (7,500 bowls × $7.00/bowl) + (1,875 bushels × $2.00/bushel) + (800 clubs × $95.00/club)
GDP = $52,500 + $3,750 + $76,000
GDP = $132,250
Part 2:
To calculate the per capita GDP growth, we need to calculate the per capita GDP for both 2020 and 2021 and then calculate the percentage change.
Per capita GDP in 2020 = GDP / Population
Per capita GDP in 2021 = (GDP in 2020 × (1 + GDP growth rate)) / Population in 2021
Per capita GDP growth = ((Per capita GDP in 2021 - Per capita GDP in 2020) / Per capita GDP in 2020) × 100
Per capita GDP in 2020 = $132,250 / 200 = $661.25
Per capita GDP in 2021 = ($132,250 × (1 + 0.20)) / 218 = $711.25
Per capita GDP growth = ((711.25 - 661.25) / 661.25) × 100 ≈ 7.57%
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true or false: under the terms of a standard universal policy, if alex stops paying his premiums, then his policy will be put on hold until he resumes payment (and pays back all missed premium payments).
Answers
Under the terms of a standard universal policy, if Alex stops paying his premiums, then his policy will be put on hold until he resumes payment (and pays back all missed premium payments). This statement is True.
The required details about Standard life insurance are mentioned in the paragraph below.
A generally accepted existence coverage coverage's coins fee grows in keeping with the overall performance of the insurer's portfolio and may be used to pay charges. Variations including variable and listed accepted existence coverage come up with alternatives for a way to make investments the coverage's coins fee. Universal existence coverage (regularly shortened to UL) is a kind of coins fee[1]existence coverage, offered mostly in the United States. Under the phrases of the coverage, the extra of top class bills above the contemporary price of coverage is credited to the coins fee of the coverage, that's credited every month with hobby. The coverage is debited every month with the aid of using a price of coverage (COI) fee in addition to every other coverage prices and costs drawn from the coins fee, even supposing no top class fee is made that month. Interest credited to the account is decided with the aid of using the insurer however has a contractual minimal price (regularly 2%). When a profits price is pegged to a monetary index including a stock, bond or other hobby price index, the coverage is an "Indexed accepted existence" contract. Such guidelines provide the benefit of assured degree charges in the course of the insured's lifetime at a significantly decreased top class price than an equal entire existence coverage at first. The price of coverage continually increases.
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Peter Pundit an economics reporter, states that the European Union (EU) is increasing its productivity very rapidly in all industries. He claims that this productivity advances is so rapid that output from the EU in these industries will soon exceed that of the United States and, as a result, the United States will no longer benefit from trade with EU.
1. Do you think Peter Pundit is correct or not? If not, what do you think is the source of his mistake.
2. If the EU and the United States continue to trade what do you think will characterize the goods that the EU exports to the United States exports to the EU?
Answers
a) Productivity growth in all industries across the entire EU is an ambitious claim. Productivity can vary significantly across industries and countries within the EU, so it is unlikely to be uniformly rapid in all sectors.
b) Even if the EU's productivity in certain industries is increasing rapidly, it does not necessarily imply that the EU will surpass the United States in terms of output. The United States has a large and diverse economy, and it is also subject to its own productivity growth and advancements.
c) The benefits of trade are not solely determined by the relative productivity of two regions. Other factors such as comparative advantage, specialization, economies of scale, and market dynamics play crucial roles in determining the gains from trade.
Therefore, without further evidence and analysis, it is premature to conclude that the United States will no longer benefit from trade with the EU based solely on the claim of rapid productivity advances.
If the EU and the United States continue to trade, the nature of the goods exported between the two regions would depend on their respective comparative advantages and specialization patterns. Both regions have diverse economies, and their trade relationship is shaped by various factors, including the types of products they are relatively efficient at producing.
Typically, countries tend to export goods in which they have a comparative advantage, meaning they can produce those goods more efficiently or at a lower cost compared to other countries. The EU and the United States have different industrial strengths and specialization patterns. For example:
a) The EU has strengths in industries such as automotive, machinery, pharmaceuticals, aerospace, and luxury goods.
b) The United States has strengths in industries such as technology, software, aerospace, defense equipment, agricultural products, and financial services.
As a result, the EU may export goods such as automobiles, machinery, and luxury goods to the United States, while the United States may export technology products, software, agricultural products, and financial services to the EU. However, the specific composition of traded goods can evolve over time based on changing comparative advantages, market conditions, and policy factors.
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What is insurance????????
Answers
Answer:
it is when you can go to the doctors and you have to pay 1,000
Explanation:
Answer:
g
Explanation:
Which of the following is an advantage of starting your own business?
Answers
Answer:
The most common reason people launch their own business is to be their own boss. Other benefits include flexibility, financial rewards, the opportunity to innovate, and a chance to impact your community. Still, there are serious risks to launching your own business, and you should carefully consider and plan before you take the leap.
Explanation:
Which of the following is a feature of seed financing? O a. The managerial involvement is very high. The company has to start up all operations Ob Money is used to finance research: The company needs money to finance the development C. Money is used to pay off debtors.
Answers
The correct option is: a. The managerial involvement is very high. The company has to start up all operations .
Seed capital is the cash raised to begin developing a thought for a business or another item.
This funding for the most part takes care of just the expenses of creating a proposition.
In the wake of securing seed financing, startups might approach financial speculators to obtain extra financing.
Some seed capital might come from angel investors — proficient investors who have a high total assets.
A company that is initially starting out may have restricted admittance to funding and different sources. Banks and different investors might be reluctant to invest in light of the fact that it has no set of experiences or laid out history, or any proportion of accomplishment. Many startup executives frequently go to individuals they know for initial investments — loved ones. This financing is alluded to as seed capital.
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Li would like to know what "managing up" means in the context of her being an HR professional.
How would
you briefly define "managing up" to Li?
Answers
In the context of being a HR professional, managing up would have to do with the management of the employees that are in an organization in terms of hiring and ensuring good conduct.
Who is a HR professional?The five key responsibilities of human resources include managing talent, pay and benefits for employees, training and development, compliance, and workplace safety. By efficiently managing the employee lifecycle, an HR department may assist in providing organizational structure and the capacity to satisfy business demands.
They act as a conduit between potential employees and the businesses hiring. While some businesses utilize outsourcing techniques, others establish a human resources department under the direction or control of an HR manager.
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Making sure that data collected on customer trends is organized is one way technology can help a business.
True
False
Answers
Answer:
True
Explanation:
I would say this statement in TRUE. Here is my reasoning: Data collection is information learned by a business. For example: If you are a moving company and you paid for a TV commercial. Wouldn't you like to know how many people are calling you for moves based on that commercial? Of course. So asking your customers "where did you hear about us?" and hearing "The TV commercial" can identify that not only is your commercial working but that it is paying for itself with the business coming your way. Data collected is a GREAT way to run a business successfully.
Why should you complete the Free Application for Federal Student Aid (FAFSA)?
A: To eliminate a semester of college requirements
B: To find the lowest interest rates on student loans
C: To get information on the schools you are interested in
D:To identify what grant programs you qualify for
Answers
Answer:
D
Explanation:
FASFA get that money baby.
You should complete the Free Application for Federal Student Aid to identify what grant programs you qualify for. The appropriate response is option D.
What is Free Application for Federal Student Aid ?The procedure for applying for financial aid begins with the Free Application for Federal Student Aid (FAFSA). Fill out the online form. You use it to submit applications for federal student aid, including grants, loans, and work-study programs. Additionally, the majority of states and universities give non-federal aid using data from the FAFSA.
A student must have economic need, be enrolled in a diploma or certificate program at a college or university, be a U.S. citizen, or be an eligible noncitizen to be eligible for the FAFSA.
Additional conditions for federal eligibility include having a valid Social Security number, continuing to perform satisfactorily in school, and earning a high school diploma, among others.
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here is 20 points cause you earned it king/queen
Answers
The financial markets are a relatively new technological development created in the last 50 years.
Answers
Answer:
False
Explanation:
Wall Street, which is one of the most famous financial markets in the US was established in 1792. In Europe, financial markets exist since the middle ages. Modern banking started in Italy in the 12th century.
Telecommunications improved how financial markets work during the 20th century and expanded their reach, but they are almost 900 years old.
True or false: one way products can be categorized is by brand.
Answers
Answer:
True
Explanation:
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what would the new equilibrium price of tutoring services be if carlos decided to stop tutoring?
Answers
If Carlos decided to stop tutoring, the equilibrium price of tutoring services would likely increase, assuming all other factors remain constant.
What would happen to the equilibrium price of tutoring services if Carlos stopped tutoring?In a market with multiple providers of tutoring services, the price is determined by the intersection of the supply and demand curves.
Carlos is one of the providers of tutoring services in the market, and his decision to stop tutoring would reduce the overall supply of tutoring services.
Assuming that the demand for tutoring services remains constant, a decrease in supply would lead to an increase in the equilibrium price of tutoring services.
This is because there would be fewer tutors available to meet the demand, and those who remain would have more bargaining power to charge higher prices.
Therefore, if Carlos were to stop tutoring, the remaining tutors would likely charge higher prices to maintain their profit margins in the face of increased demand for their services.
The extent of the price increase would depend on the elasticity of demand for tutoring services and the degree of competition among the remaining tutors.
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HELP PLZ WILL GIVE BRAINLIEST. Click this link to view O*NET’s Tasks section for Human Resources Managers. Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common tasks performed by Human Resources Managers? Check all that apply.
Answers
Answer:
the awnser to this question is A C D F i promise these are right i had the same question
Explanation:
mark brainliest pls
it is A, C, D, F
Explanation:
I just answered it
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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which of the following is least likely a skill associated with emotionally intelligent managers?
A. Persuasion
B.Communication
C. Emotional intelligence
D. Influencing
Answers
Option C. Emotional intelligence is least likely a skill associated with emotionally intelligent managers. Managers with high emotional intelligence can read the room and are more attuned to the emotions of their employees, allowing them to manage interpersonal relationships effectively.
What is emotional intelligence? Emotional intelligence is the capacity to be mindful of one's emotions and those of others. Managers with high emotional intelligence can read the room and are more attuned to the emotions of their employees, allowing them to manage interpersonal relationships effectively. A manager must possess the following qualities to become an emotionally intelligent manager:Self-awareness,Self-regulation,Motivation,Empathy,Social skills.
What is persuasion? Persuasion is the act of influencing others to change their minds or to do something they wouldn't have otherwise done. Managers must have the ability to persuade their subordinates to achieve company objectives.
What is communication? The act of exchanging information is referred to as communication. Managers must have strong communication abilities to manage a team and ensure that all employees understand their role in the company's growth.
What is influencing?Influencing entails directing the activities of others in a particular direction. Emotionally intelligent managers are skilled at influencing and getting their subordinates to work together toward a common goal. They can use their charisma, communication abilities, and leadership qualities to motivate others.
Therefore, option C. Emotional intelligence is least likely a skill associated with emotionally intelligent managers.
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The clerk who opens mail is assigned responsibility for preparing a document which identifies all cash collections received in the mail for a given day. this document is called
Answers
The clerk who opens mail is assigned responsibility for preparing a document which identifies all cash collections received in the mail for a given day. This document is called Cash receipt prelist.
A clerk is a person who works in an office, typically doing administrative or secretarial work. Clerks are often responsible for keeping records, filing documents, and performing other office tasks.
In some cases, clerks may also be responsible for customer service or sales. Clerks typically work in business or government offices, though they may also be found in other settings such as schools or hospitals.
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