Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Then entry to record the sale will include: O Credit Accumulated Depreciation $22,000. O Debit Loss on Disposal $3,000 O Credit Cash $15,000 O Credit
Then entry to record the sale will include: O Credit Accumulated Depreciation $22,000. O Debit Loss on Disposal $3,000 O Credit Cash $15,000 O Credit Truck $36,000 O None of the above If the company used the machine for 8,000 hours in 2018 and 12.000 hours in 2020. The book value of the machine at the end of 2019 is: * $40,000 O $30,000 O $22,000 $6,000 O None of the above Depreciable cost per unit is: O $1.67/hr o $1.5/ht 0 $0.5/hr O SO 1167/hr O None of the above On the purchase date the record entry is: * O Debit Machine and Credit Cash for $40,000. O Debit Machine and Credit Cash for $12,000. O Depreciation Expense and Accumulated Depreciation for $12,000. O Depreciation Expense and Accumulated Depreciation for $36,000. O None of the above Then entry to record the sale will include: O Credit Accumulated Depreciation $22,000. O Debit Loss on Disposal $3,000 O Credit Cash $15,000 O Credit Truck $36,000 O None of the above If the company used the machine for 8,000 hours in 2018 and 12.000 hours in 2020. The book value of the machine at the end of 2019 is: * $40,000 O $30,000 O $22,000 $6,000 O None of the above Depreciable cost per unit is: O $1.67/hr o $1.5/ht 0 $0.5/hr O SO 1167/hr O None of the above On the purchase date the record entry is: * O Debit Machine and Credit Cash for $40,000. O Debit Machine and Credit Cash for $12,000. O Depreciation Expense and Accumulated Depreciation for $12,000. O Depreciation Expense and Accumulated Depreciation for $36,000. O None of the above
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