Mercury inc. purchased equipment in 2016 at a cost of $400,000.

the equipment was expected to produce 700,000 units over the next five years and have a residual value of $50,000. the equipment was sold for $210,000 part way through 2018.

actual production in each year was: 2016 = 100,000 units; 2017=160,000 units; 2018 = 80,000 units.

mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.

required

1) prepare the journal entry to record the sale.

2) assuming that the equipment was sold for $245,000, prepare the journal entry to record the sale.

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

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Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.