Examlex
On April 1 of the current year,a company disposed of an automobile that had cost $20,000.The auto had a salvage value of $2,000 and a useful life of 5 years.The accounting records showed accumulated depreciation for this automobile of $8,100 as of April 1 of the current year.The asset was discarded after an accident occurred and $10,500 cash was received from an insurance claim.
Prepare the journal entry to record the disposal of the automobile.
Demand Function
A mathematical representation showing the relationship between the quantity demanded of a good and its price, along with other factors affecting demand.
Supply Function
Represents the relationship between the quantity of a good that producers are willing to sell and the price of the good.
Quantity Supplied
The amount of a particular good or service that suppliers are willing and able to provide at a given price during a certain period.
Demand Function
A mathematical expression showing the relationship between the quantity demanded of a good and its price, holding other factors constant.
Q6: A promissory note is a written promise
Q15: How does John Earle of Johnny Cupcakes,Inc.,view
Q48: A company's employer payroll taxes are
Q59: Explain the differences between cash and cash
Q61: Physical inventory counts:<br>A)Are not necessary under the
Q71: Triple Company's accountant made an entry that
Q72: The difference between the amount borrowed and
Q99: Chiller Company has credit sales of
Q162: Pepsi's accounts receivable turnover was 9.9 for
Q163: The three main factors in computing depreciation