Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 27, 2022

The book value of an asset will equal its fair value at the date of sale if the plant asset is fully depreciated. a gain

The book value of an asset will equal its fair value at the date of sale if

the plant asset is fully depreciated.

a gain on disposal is recorded.

no gain or loss on disposal is recorded.

a loss on disposal is recorded.

Step by Step Solution

★★★★★

3.45 Rating (174 Votes )

There are 3 Steps involved in it

Step: 1

Solution Asset is a profitmaking resource that a corporation possess for its economic benefits It re... 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

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

Recommended Textbook for

Engineering economy

Authors: Leland Blank, Anthony Tarquin

7th Edition

9781259027406, 0073376302, 1259027406, 978-0073376301

More Books

Students also viewed these Accounting questions

Question

★★★★★

The book value of an asset that was DDB depreciated over a 10-year period was $5832 at the end of year 4. If the first cost of the asset was $80,000, the salvage value that was used in the...

Answered: 1 week ago

Question

★★★★★

Is there a difference between the book value of accounts shown on the statement of financial position and market value? Explain.

Answered: 1 week ago

Question

★★★★★

The book value of a company's assets usually does not equal the market value of those assets. What are some reasons for this difference?

Answered: 1 week ago

Question

★★★★★

For the following project please follow the below guidelines unless otherwise stated by your instructor. Worth 20% of the total grade. Read and follow all instructions in order to receive full...

Answered: 1 week ago

Question

★★★★★

Suppose that you are given the following information about two callable bonds that can be called immediately: You are told that both of these bonds have the same maturity and that the coupon rate of...

Answered: 1 week ago

Question

★★★★★

Explain how financing activities are reported in the statement of cash flows, p. 528 LO1

Answered: 1 week ago

Question

★★★★★

Describe the evolution of the DSM from its first edition to the current DSM-5.

Answered: 1 week ago

Question

★★★★★

For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record receipt of...

Answered: 1 week ago

Question

★★★★★

A firm producing cement has lobbied a local government for legislation giving it exclusive local rights to mix cement and has transferred some of the profits to the legislators who have the power to...

Answered: 1 week ago

Question

★★★★★

Kennedy Prisby, age 33, is single and has no dependents. Her social security number is 111-22-3333. Her address is 101 North Fork Ave., Cedar City, UT 84720. She has no intention of donating to the...

Answered: 1 week ago

Question

★★★★★

Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the...

Answered: 1 week ago

Question

★★★★★

QUESTION 1 Q1 Choose one . 5 points A moving electron has_ Only an electric field O Only a magnetic field O Both electric and magnetic fields O Neither electric or magnetic fields. QUESTION 2 Q2...

Answered: 1 week ago

Question

★★★★★

4. A boy is standing at the base of a tree. In the Bee are his "friends" throwing water-balloons full of hot sauce at him. It's not a prettyr scene. Our hero wants to hit one of (if not all of) these...

Answered: 1 week ago

Question

★★★★★

An astronaut with a total mass M (including his equipment) has been accidentally separated from his shuttle and is at rest with respect to the ship at a distance d away. His tank contains a mass m,...

Answered: 1 week ago

Question

★★★★★

As the new production manager of a small manufacturing plant in Tennessee, you've been charged with making beneficial changes to the production line. After interviewing nearly all of the workers,...

Answered: 1 week ago

Question

★★★★★

Reep Construction recently won a contract for the excavation and site preparation of a new rest area on the Pennsylvania Turnpike. In preparing his bid for the job, Bob Reep, founder and president of...

Answered: 1 week ago

Question

★★★★★

Design and analysis of algorithms A. For the following code fragencsts and expressions, give the proper big O notation: B. Complete the table and determine the complexity of the algorithm Note: in...

Answered: 1 week ago

Question

★★★★★

Differentiate. y = ln(3x + 1) ln(5x + 1)

Answered: 1 week ago

Question

★★★★★

Delcon Properties is a commercial developer of shopping centers and malls in various places around the country. The company needs to analyze the economic feasibility of rainwater drains in a 60-acre...

Answered: 1 week ago

Question

★★★★★

Verify the 5-year recovery period rates for MACRS given in Table. Start with the DDB method in year 1, and switch to SL depreciation when it offers a larger recovery rate. Depreciation Rates dt...

Answered: 1 week ago

Question

★★★★★

Determine the difference in the present worth values of the following two commodity contracts at an interest rate of 8% per year. Contract 1 has a cost of $10,000 in year 1; costs will escalate at a...

Answered: 1 week ago

Question

★★★★★

A specialty foods company sells "gourmet hams" by mail order. The hams vary in size from 4.15 to 7.45 pounds, with a mean weight of 6 pounds and standard deviation of 0.65 pounds. The quartiles and...

Answered: 1 week ago

Question

★★★★★

Here is a timeplot of the same domestic load factors as in Exercise 7 but this time with a different smoother (called a median smoother) applied. a) What patterns do you see in this plot? b) Do you...

Answered: 1 week ago

Question

★★★★★

Accidents involving drunk drivers account for about 40% of all deaths on the nation's highways. The table in the next column tracks the number of alcohol-related fatalities for 26 years. a) Create a...

Answered: 1 week ago

Previous Question Next Question