Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. show time remaining maryvile co purchased equipmen

Show Time Remaining Maryvile Co purchased equipment on January 1, 2018 for $5,000 that had...

70.2K

Verified Solution

Question

Accounting

image
Show Time Remaining Maryvile Co purchased equipment on January 1, 2018 for $5,000 that had an 8 year useful life and no residual value. On january 1, 2020, the equipment had a book value of $2,850 when improvements were made to the equipment. The Improvements cost $3,000 and made the equipment more efficient and gave the product a better quality, Is this a revenue or Capital expenditure? What is straight line depreciation on December 31, 2020? O A Capital Expenditure, 5856 3. Revenue Expenditure, 5625 C. Capital Expenditure, 51,142 O D. Capital Expenditure, 1625 Reset Selection Mark for Review Whats This? Part 13 of 24.013 Question 13 of 24 4 Points Gee Enterprises purchased machinery on January 1, 2015 for $75,000. Gee Enterprises sold the machinery on January 1, 2020 for $40.000. The machinery originally had a white of 10 years. As of January 1, 2020, the machinery had $37,500 of accumulated depreciation tied to it. Compute the amount of gain or loss on the sale of the machinery A loss of $2.500 Loss of 17.500 Gain of $2.500 D. Gain or 57.100 MacBook A da DE so 88 8 7 2 3 5 6 8 9

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

Terri Vogel, an amateur motorcycle racer, averages 129.99 seconds per 2.5 mile lap (in a 7...

Statistics
Q

In seed plants archegonia are produced inside the ovules of OA gymnosperms only OB angiosperms...

Biology
Q

A manufacturer of chocolate chips would 0 05 level that t

Geometry
Q

Find a formula for f-(x) if f(x) = (x-1 / x+1) ^3-(x) = (-)'(x) =

Basic Math
Q

The figure below shows the residual plot for a data set Residuals 6 3 0...

Statistics
Q

Prove this identity You may choose to algebraically manipulate one or both sides of the...

Algebra
Q

2 (of 7) 2. value: 10.00 points Select the...

Accounting
Q

As long as there is Internet connection, almost all of the available online collaboration tools...

Accounting
Q

Presented below is the trial balance of Cullumber Corporation at December 31,2025.

Accounting
Q

The following balances were extracted from the books of the Emerald Bhd as at 30...

Accounting
Q

[The following information applies to the questions displayed below.] The following data pertain to Lawn...

Accounting
Q

Financial data from three competitors in the same industry follow. 1. Rank the three companies...

Accounting