Question 5
A company has a building that it originally bought for $100,000. As of 9/9/2012, there is $40,000 of Accumulated Depreciation on the building. On 9/9/2012, the company sells the building for $50,000.
How will this transaction show up on the income statement?
The journal entry is: Dr. Cash 50,000; Dr. Accumulated Depreciation 40,000; Dr. Loss on Sale 10,000; Cr. Buildings 100,000. Thus, there will be a Loss on Sale of Building of $10,000
8. Question 8 Which famous luxury brand has created a mobile game called to attract Chinese millennials called H-pitchhh? 1 point a) Guerlain b) Dior c) Hermes
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9. Question 9 In the long run, the relative price of non-tradables to tradables is determined by the rate of growth of money supply. 1 point True False
