3 Check my work Granite Stone Creamery sold ice cream equipment for $14,800. Granite Stone originally...
Granite Stone Creamery sold ice cream equipment for $15,200. Granite Stone originally purchased the equipment for $88,000, and depreciation through the date of sale totaled $70,000. What was the gain or loss on the sale of the equipment? Please include sale amount, less, cost of ice cream equipment, and book value.
Granite Stone Creamery sold ice cream equipment for $11,200. Granite Stone originally purchased the equipment for $77,000, and depreciation through the date of sale totaled $64,000. What was the gain or loss on the sale of the equipment? Sale amount Less: Cost of the ice cream equipment Book value
Granite Stone Creamery sold ice cream equipment for $11,200. Granite Stone originally purchased the equipment for $77,000, and depreciation through the date of sale totaled $64,000 What was the gain or loss on the sale of the equipment? Sale amount LOSS Cost of the ice cream equipment Book value < Prev 30 of 40 !!! Next > MacRook Air
Question 1 (of 17) 176 points Granite Stone Creamery sold ion cream equipment for $12,400. Granite Stone originally purchased the equipment for $81,000, and depreciation through the date of sale totaled 566,500 What was the gain or loss on the sale of the equipment? Sale amount Cost of the ice cream equipment Book value
Hawaiian Specialty Foods purchased equipment for $29,000. Residual value at the end of an estimated four-year service life is expected to be $2,900. The machine operated for 3,000 hours in the first year, and the company expects the machine to operate for a total of 18,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line, (2) double-declining-balance, and (3) activity-based. (Do not round your intermediate calculations.) Part Two: Orion Flour Mills...
Caterpillar Corp sold manufacturing equipment for $26,000. Caterpillar Corp originally purchased the equipment for $90,000, and depreciation through the date of sale totaled $76,000. Was there a gain or loss? Answer = _______yes____________(1pts) What was the amount of the gain or loss on the sale of the equipment? Answer = ____$14,000____(2pts) Prepare the journal entry for the sale of the equipment. (3pts) ?????
Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $35,750. The equipment was depreciated using the double-declining- balance method based on an estimated useful life of ten years and an estimated residual value of $690. a. What was the depreciation for the first year? $ b. Assuming the equipment was sold at the end of year 2 for $8,800, determine the gain or loss on the sale of the equipment. Loss 2 Feedback...
Prime Company purchased equipment on January 1, 2018, for $33,000. Suppose Pine Company sold the equipment for $4,000 an December 31, 2019. Accumulated Depreciation as of December 31, 2019 was $15.000. Jounale the sale of the equipment, asuming straight-line depreciation was used First calculate any gain or loss on the sale of the equipment Enter a loss with a mission or parentheses) Market value of assets received Less Book value of asset disposed of Cost Less Accumulated Depreciation Gain or...
Exam 30 Saved Help Save & Exit 19 A company sold equipment that originally cost $290,000 for $203,000 cash. The accumulated depreciation on the equipment was 587000. The company should recognize a: 26 points Multiple Choice (8 0010 O $43,500 loss. 0 0 $43,500 gain 0 $203,000 gain 0 O $87,000 loss. 0 So gain or loss. < Prev 19 of 50 Next >
please explain to me the calculations and
where i went wrong... thank you
Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $662,500. The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years and an estimated residual value of $46,08o. a. What was the depreciation for the first year? Round your answer to the nearest cent. 67,806.2 x b. Using the rounded amount from Part a...