Barnhart's Sold a Piece of Restaurant Equipment to Another Restaurant

question 81

Essay

Barnhart's sold a piece of restaurant equipment to another restaurant on July 1, 2013 for $1,100 cash. The equipment originally cost $12,000, had an estimated life of 20 years, and an estimated salvage value
of $2,000. Barnhart's had recorded total depreciation of $9,000 through the end of 2012, using the straight-line method. Barnhart's had to update the depreciation of the asset before recording the sale. Please provide the entry to record that additional depreciation.

Describe the organizational benefits of high-quality leader-member exchanges.

Recognize the distinction between in-group and out-group relationships within LMX theory.

Explain the relationship between LMX and employee empowerment.

Outline the historical development and major stages of LMX theory.

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Definitions:

Attitude

A mental inclination characterized by the assessment of a specific entity in a manner that reflects either partiality or aversion.

Ability

The possession of the means or skill to perform a task or achieve an outcome, often acquired through practice or learning.

Self-Serving Bias

The common human tendency to attribute one's successes to personal factors while attributing failures to factors beyond one's control.

Fundamental Attribution Error

A cognitive bias where people tend to attribute others' actions to their character or disposition while underestimating situational factors.