Question
On January 1, 2013, Sitton Incorporated purchased a machine for $960,000. The machine had a 5-year useful life and $60,000 salvage value, and straight-line depreciation
On January 1, 2013, Sitton Incorporated purchased a machine for $960,000. The machine had a 5-year useful life and $60,000 salvage value, and straight-line depreciation has been recorded. Sitton sold the machine on May 1, 2017 at a gain of $18,000. How much was Sitton paid for the machine?
A : $198,000.
B : $162,000.
C : $258,000.
D : $138,000.
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Fundamental Accounting Principles Volume 2
Authors: Kermit Larson, Heidi Dieckmann
15th Canadian Edition
1259087360, 9781259087363
