A machine with a cost of $146,000 and accumulated depreciation of $93.000 is sold for $46.400 cash. The total amount re...

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Question

A machine with a cost of $146,000 and accumulated depreciation of $93.000 is sold for $46.400 cash. The total amount related

Answer 1

Answer #1

Cost of the machine	$1,46,000
Less:Accumulated Depreciation	-$93,000
Carrying value of machine	$53,000
Less:Sales value of machine	$46,400
Loss on disposal	$6,600
So the Loss on disposal of $6,600 will be added to the Net Income
So Option E is answer


Common Size percent of cash =Cash amount / Total Assets
Common Size percent of cash =$26,400 / $458,000 =5.76%
So Option D is answer

Answer 2

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