Laura's business has a net loss of? Laura conducts a business with the following resultsfor the year:RevenueDepreciation on car$35,000$4,500Operating expenses of car $2,800RentWages$7,500$10,000Amortization of intangibles $900Laura's business has a net loss of

Explanation of Revenue: Revenue represents the total amount of money earned by a business from its…

Answered: Laura conducts a business with the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 14PB: Garcia Co. owns equipment that costs $150,000, with accumulated depreciation of $65,000. Garcia...

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Garcia Co. owns equipment that costs $150,000, with accumulated depreciation of $65,000. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $90,000 cash B. $85,000 cash C. $80,000 cash
Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to $1,200; and one-year registration of the truck was $100. What is the total amount of costs that should be capitalized? A. $60,600 B. $66,100 C. $54,000 D. $59,400
A company purchased a computer that cost $10,000, It had an estimated useful life of 5 years and no residual value. The computer was depreciated by the straight-line method and it was sold at the end of the second year of use for $5,000 cash. The company should record:
Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Answer me this accounting question
Gaston owns equipment that cost $32,000 with accumulated depreciation of $22,400. Gaston sells the equipment for $8,600. Which of the following would not be part of the journal entry to record the disposal of the equipment?
Hauswirth Corporation sold (or exchanged) a warehouse in year O. Hauswirth bought the warehouse several years ago for $103,500, and it has claimed $41,600 of depreciation expense against the building. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Required: a. Assuming that Hauswirth receives $76,200 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $76,200, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. c. Assuming that Hauswirth receives $21,000 in cash in year 0 and a $87,000 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year O and in year 1. Complete this…
A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and Photo Center sold the machine for $6,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $1,000 C. Loss of $1,000 D. Loss of $44,000
A copy machine cost $39,000 when new and has accumulated depreciation of $25,000. Suppose Print Center sold the machine for $14,000. What is the result of this disposal transaction? OA. Gain of $14,000 OB. Loss of $25,000 OC. Loss of $14,000 D. No gain or loss
Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__.
Need help with this general accounting question please solve this one
Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Fill in the blank
Mohr Company purchases a machine at the beginning of the year at a cost of $24,000. The machine is depreciated using the double-declining-balance method. The machine’s useful life is estimated to be 5 years with a $4,000 salvage value. The machine’s book value at the end of year 2 is: A. $12,000. B. $7,200. C. $9,600. D. $8,640. E. $14,400.

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Laura conducts a business with the following results for the year: Revenue Depreciation on car $35,000 $4,500 Operating expenses of car $2,800 Rent Wages $7,500 $10,000 Amortization of intangibles $900 Laura's business has a net loss of