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Tutor profile: Sade M.

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Sade M.
CMA Candidate and Experienced Accounting + Math Tutor
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Questions

Subject: Accounting

TutorMe
Question:

A fixed asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?

Inactive
Sade M.
Answer:

The Book Value is Calculated as Follows: Book Value = Original Cost of Equipment - Accumulated Depreciation Cost : 30,000 Accumulated Depreciation: 27.500 Book Value = 30,000 - 27,500 = 2,500 Sale of Equipment: 3,500 Book Value: 2,500 Answer: Sale Price > Book Value, therefore a gain is reported of 1,000 (3,500 - 2,500).

Subject: Macroeconomics

TutorMe
Question:

If the minimum wage is higher than the prevailing market wage, it becomes a binding ___________________ (A) . While many people want to work for a higher wage, fewer employers want to hire them, which creates a(n) ___________________ (B) in laborers.

Inactive
Sade M.
Answer:

If the minimum wage is higher than the prevailing market wage, it becomes a binding "Price Floor" . While many people want to work for a higher wage, fewer employers want to hire them, which creates a(n) "surplus" in laborers. Binding price floor is a mandatory minimum price that must be used, in this case for minimum wage. A surplus is when more is supplied than demanded. In this problem, it's when the amount of workers supplied is greater than the amount of workers needed or demanded.

Subject: Algebra

TutorMe
Question:

Write an algebraic expression for the following: Five time the sum of a number and 4

Inactive
Sade M.
Answer:

Write down what you know for sure: 5 times some expression which we will refer to as "unknown". 5 x (unknown) 2. The unknown is the sum of a number and 4 In this case, 'a number' is some variable which could be represented by x,y,z or any other letter. For this problem, let's use the letter "z" to represent our variable. "a number" = Z This is then added or "summed" to the number 4. Unknown = Z + 4 3. Combine your step 1 and step 2  Step 1 we discovered we have 5 x (unknown) Step 2 we uncovered that unknown = Z + 4 Effectively, the algebraic expression is then, 5 x (Z + 4) or 5(Z+4)

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