On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $231,195.00 with an accumulated depreciation of $219,635.25. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $26,587.43. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $26,587.43 Loss of $15,027.68 Gain of $15,027.68 Cannot be determined

Archangel manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on a percentage of direct labor costs. the production details for the year are given below. calculate the manufacturing overhead allocation rate for the year based on the above data. (round your final answer to two decimal places.) a) 42.42% b) 257.14% c) 235.71% d) 1, 206.90% archangel production details.

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?