Abo purchased a truck at the beginning of 2018 for
$140,000. they sold the truck at the end of 2019 for
$95,000. if the expected useful life of the truck was six
years with a residual value of $20,000 and abo uses
straight‐line depreciation, which of the following is true
regarding the entry to record the sale of the truck?
a. credit gain $5,000.
b. debit loss $5,000.
c. credit accumulated depreciation $40,000.
d. credit equipment $100,000.

B. Debit Loss $5,000.

Explanation:

depreciation per year under straigh-line method:

depreciation per year: 20,000

book value at 2019 year-end:

140,000 - 20,000 x 2 = 100,000

disposal value:                95,000

loss for                               5,000

loss at diposal:                      5,000  debit

cash                                      95,000 debit

accumulated depreciation  40,000 debit

                truck                                       140,000 credit

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

the answer would be price fixing, hope it