Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the yxz companys beginning and ending plant accoun

The YXZ companys beginning and ending Plant account balances were $1,800,000 and $2,370,000 respectively. The...

80.2K

Verified Solution

Question

Accounting

The YXZ companys beginning and ending Plant account balances were $1,800,000 and $2,370,000 respectively. The beginning and ending Accumulate Depreciation account balances were $560,000 and $615,000. Equipment was sold for $80,000. The equipment had cost $120,000 and had $40,000 of accumulated depreciation.

Please answer the following

A.) How much was the gain or loss on the sale of Equipment?

B.) How much was the Depreciation Expense?

C.) How much did the company spend on Purchases of Equipment?

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

A cone shaped container is oriented with its circular base on the top and its...

Geometry
Q

Write an essay about the male’s sexual response and describe one clinical case of your choice...

Medical Sciences
Q

Find out about the nominal cruise altitudes of any three aircraft types (you can also give...

Mechanical Engineering
Q

The Cloud Effect\" Please respond to the following 1. Many firms are relying on cloud computing,...

Economics
Q

Illustrate the best techniquefor gettingpeople to givemoney or timeto a cause."A. The best techniqueto get...

Biology
Q

Type A influenza is the only type of influenza that can cause pandemics.TrueFalse

Biology
Q

17 A proton carrying 1 MeV kinetic energy is moving in a circular path of...

Physics
Q

A current sheet K 6 x A m lies in the z 0 plane and...

Physics
Q

16 0 16 Type an integer or a simplifed fraction

Calculus
Q

Please help with the red boxes Exercise 12-9 During 2013, Blue Corporation spent $145,440...

Accounting
Q

Ramada Company produces one golf cart model A partally complete table of company costs follows...

Accounting
Q

A company purchased a machine with a list/cost price of 540000 . The company was...

Accounting