The Chisholm Company purchased a machine on November 1 . 2005, for $148,000 . At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $4,000 . Chisholm has recorded monthly depreciation using the straight-line method. On July 1 . 2014, the machine was sold for $13,000 . What should be the loss recognized from the sale of the
machine?
a. $4,000
b. $5,000
c. $10,200
d. $13,000
C
You might also like to view...
Businesses may immediately expense research and experimentation expenditures, or they may elect to capitalize these costs and amortize them using the straight-line method over a period of not less than 60 months.
Answer the following statement true (T) or false (F)
To lower costs and reduce manufacturing time, Michelin has people work together on important purchases. These people include individuals in the roles of buyers, deciders, gatekeepers, and others, as needed. This type of cross-functional group is known as a(n)
A. purchasing task force. B. purchasing committee. C. sustainable procurement panel. D. buying center. E. supply partnership.
Which of the following types of distribution channel relationships is considered to be temporary?
A. Arm's Length B. functional C. cooperative D. hierarchical E. integrated
To test whether or not there is a difference between treatments A, B, and C, a sample of 12 observations has been randomly assigned to the 3 treatments. You are given the results below. ? Treatment ObservationsA 20 30 25 33 B 22 26 20 28 C 40 30 28 22 ? The null hypothesis for this ANOVA problem is
A. ?1 = ?2. B. ?1 = ?2 = ?3. C. ?1 = ?2 = ?3 = ?4. D. ?1 = ?2 = ... = ?12.