Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please explain how to solve this in detail. thank you Your answer is correct. Bramble Corp. purchased machinery for $1040000 on January 1, 2017. Straight-line

image text in transcribed
please explain how to solve this in detail. thank you
Your answer is correct. Bramble Corp. purchased machinery for $1040000 on January 1, 2017. Straight-line depreciation has been recorded based on a $71000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $30000. How much cash did Bramble receive from the sale of the machinery? $301200 $230200 $159200 $197200

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

Step: 3

blur-text-image

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

Accounting Information System

Authors: James A. Hall

7th Edition

978-1439078570, 1439078572

More Books

Students also viewed these Accounting questions

Question

1. Organize and support your main points

Answered: 1 week ago

Question

3. Move smoothly from point to point

Answered: 1 week ago

Question

5. Develop a strong introduction, a crucial part of all speeches

Answered: 1 week ago