Belvedere Corporation had a balance in its Equipment account on January 1, Year 2 of $320,000. During the year, equipment originally costing $85,000 and having Accumulated Depreciation of $20,000 was sold for $67,000. The ending balance of the Equipment Account was $275,000. How much did the company spend to purchase additional equipment during Year 2?
A. $92,000
B. $40,000
C. $90,000
D. $25,000
Answer: B
You might also like to view...
Interperiod income tax allocation is based on the assumption that
A) permanent differences ultimately reverse and require interperiod tax allocation. B) permanent differences do not have deferred tax consequences. C) total income tax expense should be apportioned among numerous line items on the income statement. D) the amount of income tax expense reported on the income statement should be the same as the income tax obligation on the corporation's income tax return.
The likelihood of ethical lapses as well as poor long-term company performance tends to increase when there are
A. executive commitment to implementing strategic suggestions from the board of directors B. increases in research and development expenditures in years when low earnings are reported by the company C. attracting investors who think the company's industry will grow D. dramatic cuts in research and development expenditures in years when low earnings are reported by the company E. hiring and maintaining a skilled and diverse workforce
The best negotiated outcomes likely arise from ________, where the parties find mutually beneficial trade-offs.
A. conflict resolution B. assessment C. integration D. distribution
What are the key components of a good disciplinary model?
What will be an ideal response?