Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $40,000 cash. The old machine cost $455,000 and had a net book value of $355,000. The old machine had a fair market value of $300,000. Which of the following is the correct journal entry to record the exchange? The journal entry includes a debit to Equipment $340,000 and a debit to Loss $55,000.
The journal entry includes a debit to Equipment $340,000 and a debit to Cash $40,000.
The journal entry includes a debit to Equipment $285,000 and a credit to Accumulated Depreciation $110,000.
The journal entry includes a debit to Equipment $285,000 and a debit to Accumulated Depreciation $110,000.

Acompany that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. prior to buying the new equipment, the company used 6 workers, who produced an average of 79 carts per hour. workers receive $16 per hour, and machine coast was $49 per hour. with the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $11 per hour while output increased by four carts per hour. a) compute the multifactor productivity (mfp) (labor plus equipment) under the prior to buying the new equipment. the mfp (carts/$) = (round to 4 decimal places). b) compute the productivity changes between the prior to and after buying the new equipment. the productivity growth = % (round to 2 decimal places)