Benjamincompton07
03.08.2019 •
Business
Jamison company reports depreciation expense of $35,000 for year 2. also, equipment costing $140,000 was sold for a $5,000 gain in year 2. the following selected information is available for jamison company from its comparative balance sheet. compute the cash received from the sale of the equipment. at december 31year 2year 1equipment$610,000 $750,000 accumulated depreciation-equipment 428,000 500,000 multiple choice$38,000.$23,000.$35,000.$67,000.$40,000.
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Ответ:
$38,000
Explanation:
sales price - (equipment - acc depreciation) = gain on disposal
X - (140,0000 - acc depreciation) = 5,000
this are the changes the acc depreciation account had during the period:
beginning - acc depreciation on equipment sold + depreciation expense for the period = ending
we post our know values and solve for acc depreciation on equipment
500,000 - acc dep + 35,000 = 428,000
acc dep = 500,000 +35,000 - 428,000
acc dep = 107,000
now return to our previous formula
and post the acc depreciation
sales price - (equipment - acc depreciation) = gain on disposal
X - (140,000-107,000) = 5,000
X - 33,000 = 5,000
X = 33,000+5,000 = 38,000
Ответ:
Required reserve=$36 million
Explanation:
In a fractional banking system, banks are required to maintain a proportion of their total deposit for precautionary reasons by banking authority.
The proportion is known as the required reserve ratio and is always given as a percentage of the total deposit.
The required reserve = required reserve (%) × Total deposit
= 12%× 300 million
=36 million
Required reserve=$36 million