FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bramble Corp. purchased machinery for $1126000 on January 1, 2017. Straight-line depreciation has been recorded based on a $88000 salvage value and a 5-year useful

image text in transcribed
Bramble Corp. purchased machinery for $1126000 on January 1, 2017. Straight-line depreciation has been recorded based on a $88000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $25500. How much cash did Bramble receive from the sale of the machinery? $339900 $163900 $251900 $227300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Principles Of Auditing: An International Perspective

Principles Of Auditing: An International Perspective

Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen

1st Edition

0077095324, 978-0077095321

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider the absorbing stochastic matrix A, where Approximate the stable matrix of A by raising A to a high power. Then find the exact stable distribution by calculating S(I - R)-1. 0.6 .1 .1 0 0 .2...

Answered: 1 week ago

Question

★★★★★
A stock has a beta of 1.19 and an expected return of 12.4 percent. A risk-free asset currently earns 2.7 percent. a. What is the expected return on a portfolio that is equally invested in the two...

Answered: 1 week ago

Question

★★★★★
11.45 The table gives data for a 3 x 3 factorial experiment, with two replications per treatment: a. Perform an analysis of variance for the data, and present the results in an analysis of variance...

Answered: 1 week ago

Question

★★★★★
Keystone Computer Timeshare Company entered into the following transactions during May 2015. 1. Purchased computer terminals for $20,000 from Data Equipment on account. 2. Paid $3,000 cash for May...

Answered: 1 week ago

Question

★★★★★
all 8 journal entires You are an internal auditor for Shannon Supplies, Inc., and are reviewing the company's preliminary financial statements. The statements, prepared after making the adjusting...

Answered: 1 week ago

Question

★★★★★
1. Heat transfer is thermal energy in transit due to a spatial difference. (2 points) 2. Write three types of heat transfer modes: (2 points) 3. The sun shines on a 150 m road surface so it is at 45....

Answered: 1 week ago

Question

★★★★★
Which of the following elements is used for vulcanizing rubber? [A] Chlorine [B] Phosphorus [C] Sulphur [D] Bromine

Answered: 1 week ago

Question

★★★★★
Which of the following soils have a high content of aluminium and iron oxide? [A] meadow soil [B] podzol soil [C] chernozem soil [D] pedalfer soil

Answered: 1 week ago

Question

★★★★★
What is Accounting?

Answered: 1 week ago

Question

★★★★★
Define organisation chart

Answered: 1 week ago

Question

★★★★★
What are the advantages of planning ?

Answered: 1 week ago

Question

★★★★★
Teamwork. Picture yourself as the author of the Ask Andy column in your school paper. You receive a letter that says, My boss is always suggesting ways for me to do my job better.When I mentioned...

Answered: 1 week ago

Question

★★★★★
Teamwork. Virtual teams are growing as an organizational phenomenon, and web-assisted technologies are being used to facilitate their work.Research several businesses in your city to see whether they...

Answered: 1 week ago

Question

★★★★★
For each of the following situations, give a verbal and nonverbal example of a passive reponse, an aggressive response, and an assertive response. (Objective 2) a. You bought a new gas grill at the...

Answered: 1 week ago

Previous Question Next Question