Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $94,200. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $16,500 cash. Diaz sold the machine for $32,600 cash. Diaz sold the machine for $42,000 cash.

Q: Q6. Suggest a reagent for the following conversion. OH

A: In the conversion shown, the goal is to oxidize a secondary alcohol (2-butanol) to a ketone…

Q: OCF analysis

A: Operating Cashflow Analysis  = Net Income + Depreciation and Amortization- Net Working capital

Q: Prev

A: The Loan provided to friends is clearly a “Non-Business” loan and so it is to be treated as…

Q: What is crj

A: Crj means cash receipt journal .

Q: What is Reg D?

A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…

Q: E11.18

A: Annual Interest on Bonds = Face value of bonds x rate of interest x year = 2400000*7%*1 year  =…

Q: Using the information below, compute the raw materials inventory turnover Raw materials used…

A: An inventory turnover ratio is a type of financial ratio that shows the efficiency of a company in…

Q: Q7-1. What is interest? Explain.

A: Interest is a financial term regularly used when money is lent or received as a loan. Interest…

Q: section 1231 summary

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: When are data in 3NF?

A:

Q: the customer per small p the customer per large p= s Stork Enterprises have f gnize this tax…

A: A. Total tax charged to the customer per small package = 6% x $45 = $2.70Overall charge per small…

Q: explain the the benifts of IFRS9

A: The international financial reporting standard 9 is generally specifying how a particular…

Q: Which of the following GRI standards is topic-specific related? O GRI 102 O GRI 200 O GRI 103 GRI…

A: GRI Standards is one of the modular system that is being used. It contains three series of standards…

Q: What is WACC

A: Weighted average cost of capital(WACC) is the average cost of several source of financing. It is…

Q: is the right answer 7.38

A: Let 100 be the value of Ne Zealand dollar Value of US dollar = 140 Value after inflation in New…

Q: 1,352,113.13 is incorrect. What is the correct answer?

A: Net Present Value is used to evaluate the investment and financing decisions that involve cash flows…

Q: 2/120? а. 36 b. 8 С. 24

A: Factors for 152: 1, 2, 4, 8, 19, 38, 76, and 152 Factors for 120: 1, 2, 3, 4, 5, 6, 8, 10, 12, 15,…

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: In providing accounting services to small businesses, you encounter the following situations.…

A: Answer:-Journal entry:- The act of maintaining or creating the records of any transactions, whether…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: Explanation 1031 like-kind exchange

A:

Q: the differencwe between the new IFRS 15 and old IFRS 15

A: The acronym IFRS stands for International Financial Reporting Standards that provide the rules,…

Q: Carefully explain the cross-sectional test of the CAPM.

A: The Capital Asset Pricing Model (CAPM) is a mathematical model that describes the relationship…

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: Define NRV method.

A: Definition:   Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…

Q: practical issues of wacc

A: Every entity uses a mix of equity and debt to fund its operations. This mix is recognized as the…

Q: Which of the following value is concerned with the way we approach the end states?

A: Option a

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: So the answer is  1394 or2450?

A: The deductible business expenses are the expenses which are incurred for business. If the expenses…

Q: Define regulation D

A: The Accounting Standards are specific set of principles and procedures set by the authorized bodies…

Q: Given that im) = 0.1488144 and dm) 0.1417814, find m. %3D

A: i(m) = 0.1488144 d(m) = 0.1417814

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.