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A. Using the information shown, record the journal entry for the sale of the facility for $26,450. Assume that the sale took place on July 1, 2019, six months after the facility was written down. A. Record the journal entry made to update the books prior to the sale.
B. In addition, assume that the new technology that made the Mixer owned by the company has been determined to environmental unsound and has been called off the market. The estimated revenues generated by the Mixer are recalculated to a total of $150,000 over the next four years. Explain what Ryadom Industries must do regarding its asset accounts regarding this turn of events.
Knowledge Acquisition
The process of obtaining, assimilating, and internalizing new information or skills, often for organizational learning and development.
Intellectual Capital
The intangible value of an organization's knowledge, intellectual property, and employee expertise.
Open Systems
A concept in organizational theory and systems theory that views organizations as entities that interact with their environment, adapting and evolving as a result.
Contingency
The possibility that future events may occur, often dependent on certain conditions or situations, which can influence planning and decision-making.
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