Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2017, the accumulated depreciationma

On January 1, 2017, the Accumulated DepreciationMachinery account of a particular company showed a balance...

60.1K

Verified Solution

Question

Accounting

On January 1, 2017, the Accumulated DepreciationMachinery account of a particular company showed a balance of $1500000. At the end of 2017, after the adjusting entries were posted, it showed a balance of $1590000. During 2017, one of the machines which cost $510000 was sold for $242000 cash. This resulted in a loss of $17800. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2017?

$90000

$375800

$242000

$340200

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1) A. Myosin proteins (which are anions) appear in Jessica's urine. Tell why this is problematic...

Medical Sciences
Q

Which is the correct order for the application of reagents in the Gram stain?Select one:a....

Biology
Q

To make a candle float stably in water in vertical orientation an aluminium cylinder of...

Physics
Q

4 cart of mass M 500 kg and initial speed 5 00 m s collides...

Physics
Q

The average amount of money spent for lunch per person in the college cafeteria is...

Statistics
Q

the length and width of a rectangle whose perimeter is 40 feet and whose area...

Algebra
Q

10 1000 0100 0001 0010 Perform a spectral decomposition on both matrices form UDU where...

Algebra
Q

A company estimates that $1,000 of its accounts receivable is uncollectible at the end of...

Accounting
Q

Help 3 Conway Designs established a $230 petty cash fund on October 1, 2020 Prepare...

Accounting
Q

Diversified Products, Inc., has recently acquired a small publishing company that offers three books for...

Accounting
Q

A stock just paid an annual dividend of $2.5. The dividend is expected to grow...

Finance
Q

Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing...

Accounting