Question

A company had a tractor destroyed by fire. The tractor originally cost $129,000 with accumulated depreciation...

A company had a tractor destroyed by fire. The tractor originally cost $129,000 with accumulated depreciation of $63,600. The proceeds from the insurance company were $24,000. The company should recognize:

1 0
Add a comment Improve this question Transcribed image text
Answer #1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.

Answer 3 The Company should recognize Loss on sale of Tractor 4 = Insurance - Net Value of Tractor 5 = $ 24000 - ( 129000-636

Add a comment
Know the answer?
Add Answer to:
A company had a tractor destroyed by fire. The tractor originally cost $129,000 with accumulated depreciation...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT