Equipment was purchased for $78,000 . It had an estimated residual value of $12,000 and has a current carrying value of $50,000 . Its depreciable cost must have been
a. $62,000.
b. $42,000.
c. $66,000.
d. $28,000.
C
You might also like to view...
As an analyst, the accountant could be the development team member who conducts a preliminary survey
Indicate whether the statement is true or false
Which of the following statements is true of advertising targeted to African American and Hispanic consumers?
A. Over the past two decades, marketing and advertising programs targeted at African American consumers have decreased. B. For many years, advertisers ignored African American and Hispanics as identifiable subcultures and viable markets. C. The use of Hispanic people as spokespersons has been prevalent since the conception of print ads. D. Hispanics and African American together constitute the largest consumer group in the United States. E. Hispanics or African American have always appeared more often in TV advertisements than white people.
Dorman Music Corporation manufactures guitars and uses a FIFO process costing system. The following information relates to September production: Number of unitsPercent Complete with Respect to Conversion costsWork in process, September 110,00020%Units started into production45,000 Work in process, September 304,00075% Conversion cost in work in process on September 1$32,000Conversion cost added to production during September 842,400Total cost$874,400The amount of conversion cost that should be assigned to the guitars in work in process on September 30 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $48,600 B. $842,400 C. $874,400 D. $48,000
Shared responsibility for change in very small organizations is often lost with growth and over time.
Answer the following statement true (T) or false (F)