On january 1, 2018, jacob inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. the truck has a useful life of eight years and an estimated residual value of $8,000. assume the truck was totaled in an accident on december 31, 2019. what amount of gain or loss should jacob inc. record on december 31, 2019?
a. loss, $38,000.
b. loss, $18,000.
c. loss, $3,000.
d. gain, $5,000.

Ateam of engineers has decided to design a new shoe for people suffering from a painful foot condition. what should the engineers do during the planning stage of their project? a. look at the trial's results to see how the design can be improved. b. build a variety of shoe models. c. have patients wear the new shoe in an experimental trial to see if symptoms improve. d. estimate how much potential consumers would be willing to pay for this new shoe.

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Upon completion of the northwest-corner rule, which source-destination cell is guaranteed to be occupied? a. top-leftb. the cell with the lowest shipping costc. bottom-leftd. top-righte. bottom-right