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I'm not sure with my answer On June 1, 2019, XYZ Company paid $129, 000 to purchase equipment. The equipment was ass...
On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a...
On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a residual value of $12,000 and a life of 15 years. The equipment will be depreciated using the straight line depreciation method. On March 31, 2028, XYZ Company sold the equipment and recorded a gain on the sale of $7,140. Calculate the selling price of the equipment at March 31, 2028.
On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a...
On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a residual value of $12,000 and a life of 15 years. The equipment will be depreciated using the straight line depreciation method. On March 31, 2028, XYZ Company sold the equipment and recorded a gain on the sale of $7,140. Calculate the selling price of the equipment at March 31, 2028.
Question 5 On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was...
Question 5 On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a residual value of $12,000 and a life of 15 years. The equipment will be depreci ated using the straight line depreciation method On March 31, 2028, XYZ Company sold the equipment and recorded a gain on the sale of $7,140. Calculate the selling price of the equi pment at March 31, 2028.
I'm not sure with my answer XYZ Company purchased a new piece of equipment on January...
I'm not sure with my answer
XYZ Company purchased a new piece of equipment on January 1, 2022. The following information relates to the equipment purchased: Purchase price.... Residual value.. Life ....... . 8 years Using the straight-line depreciation method, the equipment's book value at December 31, 2025 would be $82,700. Using the double-declining balance depreciation method, the depreciation expense recorded on the equipment in 2023 would be $30,000. Calculate the residual value assigned to this piece of equipment. 5,400
On June 1, 2016, XYZ Company paid $375,000 to purchase land, a building, and some equipment. The market value of these a...
On June 1, 2016, XYZ Company paid $375,000 to purchase land, a building, and some equipment. The market value of these assets on that date were: land $68,000; building $220,000; equipment $112,000. The equipment was assigned a useful life of 15 years and a $6,000 residual value. The equipment will be depreciated using the straight-line method. On November 30, 2022, XYZ Company sold the equipment for $39,300 cash. Calculate the amount of the loss recorded on the sale of the...
On June 1, 2016, XYZ Company paid $375,000 to purchase land, a building, and some equipment. The market value of these a...
On June 1, 2016, XYZ Company paid $375,000 to purchase land, a building, and some equipment. The market value of these assets on that date were: land $68,000; building $220,000; equipment $112,000. The equipment was assigned a useful life of 15 years and a $6,000 residual value. The equipment will be depreciated using the straight-line method. On November 30, 2022, XYZ Company sold the equipment for $39,300 cash. Calculate the amount of the loss recorded on the sale of the...
I'm not sure with my answer On February 1, 2022, Jackson Company purchased a truck, a...
I'm not sure with my answer
On February 1, 2022, Jackson Company purchased a truck, a machine, and a small office building for $180,000. On the date of purchase, the market values of the three assets were: Market Value Truck $65,800 Machine . $37,600 Building $84,600 The truck, which will be depreciated using the units of production method, was assigned a $7,000 residual value and is expected to be driven a total of 80,000 miles over its useful life. The...
On January 1, 2019, Romero Company purchased equipment for $265,000. The equipment was assigned a $7,000...
On January 1, 2019, Romero Company purchased equipment for $265,000. The equipment was assigned a $7,000 residual value and a 16-year life. Romero Company will use the straight-line method to depreciate the equipment. On January 1, 2028, Romero Company spent $29,725 to overhaul the equipment. This capital expenditure resulted in Romero Company changing the life of the equipment from 16 years to 22 years and adjusting the residual value to be $4,000 at the end of the 22 years. Calculate...
On January 1, 2019, Romero Company purchased equipment for $265,000. The equipment was assigned a $7,000 residual value...
On January 1, 2019, Romero Company purchased equipment for $265,000. The equipment was assigned a $7,000 residual value and a 16-year life. Romero Company will use the straight-line method to depreciate the equipment. On January 1, 2028, Romero Company spent $29,725 to overhaul the equipment. This capital expenditure resulted in Romero Company changing the life of the equipment from 16 years to 22 years and adjusting the residual value to be $4,000 at the end of the 22 years. Calculate...
Question 5 On June 1, 2019, XYZ Company paid $129,000 to purchase equipment. The equipment was assigned a residual value of $12,000 and a life of 15 years. The equipment will be depreci ated using the straight line depreciation method On March 31, 2028, XYZ Company sold the equipment and recorded a gain on the sale of $7,140. Calculate the selling price of the equi pment at March 31, 2028.
I'm not sure with my answer
XYZ Company purchased a new piece of equipment on January 1, 2022. The following information relates to the equipment purchased: Purchase price.... Residual value.. Life ....... . 8 years Using the straight-line depreciation method, the equipment's book value at December 31, 2025 would be $82,700. Using the double-declining balance depreciation method, the depreciation expense recorded on the equipment in 2023 would be $30,000. Calculate the residual value assigned to this piece of equipment. 5,400
I'm not sure with my answer
On February 1, 2022, Jackson Company purchased a truck, a machine, and a small office building for $180,000. On the date of purchase, the market values of the three assets were: Market Value Truck $65,800 Machine . $37,600 Building $84,600 The truck, which will be depreciated using the units of production method, was assigned a $7,000 residual value and is expected to be driven a total of 80,000 miles over its useful life. The...
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