Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 27, 2024

A machine was bought for $10,000 on 1 January 20X6. It was sold on 30 September 20X9 for $5,000. The machine was depreciated using straight-line

A machine was bought for $10,000 on 1 January 20X6. It was sold on 30 September 20X9 for $5,000. The machine was depreciated using straight-line method over 10 years with no residual value. What is the gain or loss?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+20.18. 1 Let N, X1, X2 ,... be independent, where P[N =n] =q"-p, n 21, and each X, has the exponential density f(x; a, 1). Show that X, + . . . +X, has density f(x; ap, 1).

Answered: 1 week ago

Question

★★★★★

On December 31, 2010 Brown Company's inventory burned. Sales and purchases for the year had been $1,400,000 and $980,000, respectively. The beginning inventory (Jan. 1, 2010) was $170,000; in the...

Answered: 1 week ago

Question

★★★★★

On March 11, 20xx, the existing or current (spot) one-year, two-year, three-year, and four-year zero-coupon Treasury security rates were as follows: 1 R2 = 1.10%, R2 = 1.62% 1R3 = 1,86%, 1 R4 -1.97%...

Answered: 1 week ago

Question

★★★★★

Q Explain the function of anti-pumping in the circuit breaker.

Answered: 1 week ago

Question

★★★★★

What is the expected change in production volume, on average, as the number of factory workers decreases by five? Please enter the value of the expected change in production volume with ONE digit to...

Answered: 1 week ago

Question

★★★★★

The company has the following beginning balances in its stockholders\' equity accounts on January 1 , 2 0 2 4 : Common Stock, $ 1 0 0 , 0 0 0 ;Additional Paid - in Capital, $ 3 , 7 0 0 , 0 0 0 ; and...

Answered: 1 week ago

Question

★★★★★

business law "This is impossible! Just totally impossible! Ten months ago I was sitting on top of the world. Upper-level management considered me one of the best, if not the best, engineer in the...

Answered: 1 week ago

Question

★★★★★

BE12.4-Using Excel to Calculate Direct Materials Variances PROBLEM Sprague Company's uses a standard cost system and has provided the following information for its direct materials during Julv....

Answered: 1 week ago

Question

★★★★★

Flounder Company purchased a new machine on October 1, 2022, at a cost of $110,000. The company estimated that the machine will have a salvage value of $10,000. The machine is expected to be used for...

Answered: 1 week ago

Previous Question Next Question