Green Company reports depreciation expense of $35,000 for Year 2. Also, equipment costing $140,000 was sold for a $5,000 gain in Year 2. The following selected information is available for Green Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.At December 31Year 2Year 1Equipment$610,000 $750,000 Accumulated Depreciation-Equipment 428,000 500,000
A. $38,000.
B. $35,000.
C. $23,000.
D. $67,000.
E. $40,000.
Answer: A
You might also like to view...
Explain the process of copyright registration
What will be an ideal response?
In the kaizen cycle, the Do step consists of
A) setting the amount of planned improvement for the upcoming period. B) taking actions to implement the planned improvements. C) comparing actual results to the kaizen standard to provide a measure of the level of improvement attained. D) setting the level of improvement as the minimum standard for future performance locks in the realized improvements, simultaneously initiating the maintenance cycle and a search for additional improvement opportunities. E) Planning possible actions.
You have agreed to a $30,000 fixed-rate loan from People's Bank today and promise to repay the loan with 24 equal monthly payments at an APR of 4.50%. What is the EAR of this loan?
A) 4.71% B) 4.63% C) 4.59% D) 4.50%
If a Markov chain has at least one absorbing state, steady-state probabilities cannot be calculated
a. True b. False Indicate whether the statement is true or false