8.

9.

39.

A company sells a plant asset which originally cost $363000 for $118000 on December 31, 2021. The Accumulated Depreciation account had a balance of $146000 after the current year's depreciation of $38000 had been recorded. The company should recognize a O $61000 loss on disposal. O $99000 gain on disposal. O $99000 loss on disposal. $245000 loss on disposal. Waterway Corporation bought equipment on January 1, 2021. The equipment cost $375000 and had an expected salvage value of $59400. The life of the equipment was estimated to be 6 years. The depreciation expense using the straight-line method of depreciation is $72400 O $74400 $52600. O None of these answer choices are correct Swifty, Inc., has 9900 shares of 4%, $100 par value, noncumulative preferred stock and 99000 shares of $1 par value common stock outstanding at December 31, 2020. If the board of directors declares a $199100 dividend, the $39600 will be held as restricted retained earnings and paid out at some future date. O preferred stockholders will receive $39600 and the common stockholders will receive $159500. O preferred stockholders will receive the entire $199100. preferred stockholders will receive 1/10th of what the common stockholders will receive