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

Question

1 Approved Answer

Vaughn Manufacturingpurchased machinery for $910000on January 1, 2017. Straight-line depreciation has been recorded based on a $59500salvage value and a 5-year useful life. The machinery

Vaughn Manufacturingpurchased machinery for $910000on January 1, 2017. Straight-line depreciation has been recorded based on a $59500salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $13000. How much cash didVaughnreceive from the sale of the machinery?

$126400

$185900

$245400

$159900

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

Managerial Accounting

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

17th Edition

1260247783, 978-1260247787

More Books

Students also viewed these Accounting questions

Question

★★★★★
A partnership has the following capital balances: X (50 percent of profits and losses) = $150,000; Y (30 percent of profits and losses) = $120,000; Z (20 percent of profits and losses) = $80,000. If...

Answered: 1 week ago

Question

★★★★★
Assume Dotty Cakes, Inc., completed the following transactions during 2021, the companys 10th year of operations: Requirements 1. Analyze each transaction in terms of its effect on the accounting...

Answered: 1 week ago

Question

★★★★★
Compare major definitions of abnormality proposed in the field of clinical psychology.

Answered: 1 week ago

Question

★★★★★
1. Using the pyramid of strategy practice (Figure 16.1), describe strategy-making in the city of Vaasa. 2. Comment on the strategy process being followed at Vaasa. In what ways does this depart from...

Answered: 1 week ago

Question

★★★★★
Derive algebraically and explain the Expected Return-Beta relationship.

Answered: 1 week ago

Question

★★★★★
After reading the following case study, you will need to determine the client diagnoses, with code and specifiers. You will need to write out the justifications for why you selected the diagnosis...

Answered: 1 week ago

Question

★★★★★
1. Let a, b R, a Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
Case 7.1 Incoterms (CIF) A contract of sale was ent between an American company, BAT Inc., of Calu- met City, Ilinois (buyer), and a German scientific equipment manufacturing firm, Tola (seller), for...

Answered: 1 week ago

Question

★★★★★
Luanne is an actuary who assesses data to take into account whether the data has been previously checked and verified. Which one of the following statements is correct? Available answer options...

Answered: 1 week ago

Question

★★★★★
1.Recommend two knowledge, skills, abilities, or other characteristics (KSAOs) to add to the dog trainer job description that align with the shelter's goals. 2.Explain how the shelter taking steps to...

Answered: 1 week ago

Question

★★★★★
Part I - Magnetic Fields 1) Background and Theory Part I: A magnetic field exerts a force that could be attractive or repulsive on another moving/stable magnet(s) depending on the polarities of both...

Answered: 1 week ago

Question

★★★★★
Discuss the importance of personal cash flow to your daily activities. Give 5 important roles of banking in personal finance.

Answered: 1 week ago

Question

★★★★★
Tell what you mean without sounding too dominant, i.e. show authority without sounding instructive

Answered: 1 week ago

Question

★★★★★
Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Question

★★★★★
Get married, do not wait for me

Answered: 1 week ago

Previous Question Next Question