1 answer

Multiple Choice yun 115 Flint Corporation bought equipment on January 1, 2022. The equipment cost $450000...

Question:

Multiple Choice yun 115 Flint Corporation bought equipment on January 1, 2022. The equipment cost $450000 and had an expected

A company sells a plant asset that originally cost $550000 for $230000 on December 31, 2022. The accumulated depreciation acc


Multiple Choice yun 115 Flint Corporation bought equipment on January 1, 2022. The equipment cost $450000 and had an expected salvage value of $70000. The life of the equipment was estimated to be 4 years. The depreciable cost of the equipment is $450000 $95000. $380000 $70000
A company sells a plant asset that originally cost $550000 for $230000 on December 31, 2022. The accumulated depreciation account had a balance of $220000 after the current year's depreciation of $55000 had been recorded. The company should recognize a $45000 loss on disposal. $320000 loss on disposal. $100000 gain on disposal. 5100000 loss on disposal. C .

Answers

(b Option is correct. $380,000 Calculation: Depreciable cost of the equipment & Cost of Equipment - Salvage value - $450,000

.

Similar Solved Questions

1 answer
Which of the following is authorized to conduct periodic inspections of nonprivate company auditors in order...
Which of the following is authorized to conduct periodic inspections of nonprivate company auditors in order to assess whether they are complying with the requirements of the Sarbanes-Oxley Act? a. The Public Company Accounting Oversight Board b. The Internal Revenue Service c. The Securities Exchan...
1 answer
1.4. Determine the number of IR active CO stretching modes for fac-[Mo(CO)=(NCCH3)3]. [HINT: Molecule has a...
1.4. Determine the number of IR active CO stretching modes for fac-[Mo(CO)=(NCCH3)3]. [HINT: Molecule has a point group. GBv]...
1 answer
The most recent financial statements for Hailey Co. are shown here: Income Statement Balance Sheet   Sales...
The most recent financial statements for Hailey Co. are shown here: Income Statement Balance Sheet   Sales $ 57,000 Current assets $ 28,500 Long-term debt $ 62,000   Costs 24,600 Fixed assets 122,500 Equity 89,000   Taxable income $ ...
1 answer
M 15.4141 0 7/31/2017 01:58 PM @cal ulator酬Penodic Table earning this question has been customized by...
M 15.4141 0 7/31/2017 01:58 PM @cal ulator酬Penodic Table earning this question has been customized by Craig Jasperse at Minnesota State University, Moorhead n be converted to alcohols by hydroboration-oxidation. Draw the f the alcohol(s) formed in the cable (it may not be), draw hydrogen at a...
1 answer
2 ( numerator) x(x2-3x+2) ( denominator) The question is asking to; Resolve into partial fractions.
2 ( numerator) x(x2-3x+2) ( denominator) The question is asking to; Resolve into partial fractions....
1 answer
Blank sheet. journalize the entries to record the following Petty cash fund entries Instructions Chart of...
blank sheet. journalize the entries to record the following Petty cash fund entries Instructions Chart of Accounts Journal Instructions Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): Instructions A. On March 1, Check is issue...
1 answer
Honors Physics Question on Magnetism I'm given a system like so: Four systems are described below....
Honors Physics Question on Magnetism I'm given a system like so: Four systems are described below. System q1(C) q2(C) F(N) A 16 3 3 B -2 4 2 C 5 -5 5 D 1 2 2 I'm then asked to rank the systems in order of decreasing separation between the charges, and to indicate ties where app...
1 answer
Please show your work! 1. When s = 0, the spring firing mechanism is unstretched. If...
Please show your work! 1. When s = 0, the spring firing mechanism is unstretched. If the arm is pulled back such that s = 100 [mm] and released, determine the maximum mass of a ball that would reach 0 = 180° without leaving the track. Assume all surfaces of contact to be smooth. Neglect the mass...
1 answer
Please help, I have re worked this problem and I keep getting mixed solutions.Please write clearly...
Please help, I have re worked this problem and I keep getting mixed solutions.Please write clearly Extra Credit: There will be no partial credit. Answers must be correct. (10 pts) Show how you would accomplish the following synthetic conversion starting with ethanol as the only source of organic ca...
1 answer
By show it means prove not solve for the if again Thank you! (a) Show that eis an integrating factor for the DE (b) Show that a general solution y y(z) of the DE (1) is given implicitly by the e...
By show it means prove not solve for the if again Thank you! (a) Show that eis an integrating factor for the DE (b) Show that a general solution y y(z) of the DE (1) is given implicitly by the equation F(x, y) c where c is a constant and where F(x, y) = e-r2(y2(z"y + 2)-1 ) (a) Show that ei...
1 answer
LIGI Variagement 4. Interest rate parity Aa Aa D The rise of globalization is due to the many companies that have b...
LIGI Variagement 4. Interest rate parity Aa Aa D The rise of globalization is due to the many companies that have become multinational corporations for various reasons-for example, to access better technology, to enter new markets, to obtain more raw materials, to find funding resources, to minimize...
1 answer
Problem 11-20 Sell or Process Further Decision [LO11-7 (Prepared from a situation suggested by Professor John...
Problem 11-20 Sell or Process Further Decision [LO11-7 (Prepared from a situation suggested by Professor John W. Hardy) Lone Star Meat Packers is a major processor of beef and other meat products. The company has a large amount of T-bone steak on hand, and it is tryling to decide whether to sell the...
1 answer
Standard design practice, as exhibited by the solutions to Probs. 8-66 to 8-70, is to assume that...
Standard design practice, as exhibited by the solutions to Probs. 8-66 to 8-70, is to assume that the bolts, or rivets, share the shear equally. For many situations, such an assumption may lead to an unsafe design. Consider the yoke bracket of Prob. 8-61, for example. Suppose this bracket is bolted ...
1 answer
How do you simplify #(16a ^ { - 4} b ) ^ { 5}#?
How do you simplify #(16a ^ { - 4} b ) ^ { 5}#?...
1 answer
Below are nominal GDP and GDP deflators for four years. Year Nominal GDP in billions GDP...
Below are nominal GDP and GDP deflators for four years. Year Nominal GDP in billions GDP Deflator Year 1 $19,000 100 Year 2 19,560 102 Year 3 20,495 105 Year 4 21,280 106 a. Calculate real GDP in each year. Instructions: Round your responses to the nearest whole number. &...