On December 31, Strike Company sold one of its batting cages for $224,697. The equipment had an original cost of $264,350 and has accumulated depreciation of $39,653. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?
Q: On December 31, Strike Company sold one of its batting cages for $13,293. The equipment had an…
A: Sale of Assets - Sale of an assets is an event of that releases company's assets against cash. In…
Q: accumulated depreci transaction? Oa. loss of $11,052 Ob. loss of $10,533 Oc. gain of $10,533 Od.…
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Q: On December 31, Strike Company sold one of its batting cages for $198,177. The equipment had an…
A: Net book value = Cost - accumulated depreciation = $233,150 - $34,973 = $198,177
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Q: On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an…
A: Cost of equipment: $206,400 Accumulated depreciation: $185,760 Let's assume, the equipment was sold…
Q: On December 31, Strike Company sold one of its batting cages for $243,312. The equipment had an…
A: Net Book value on December 31 = Cost - Accumulated depreciation = $286,250 - $42,938 = $243,312
Q: On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the…
A: Particulars Amount $ Initial cost 260520 Less: Accumulated Depreciation 247494 Book value on…
Q: On December 31, Strike Company sold one of its batting cages for $10,952. The equipment had an…
A: Depreciation is an expense of the business which occurs due to wear and tear of the asset due to…
Q: Calculate the amount of the loss
A: DETAILS GIVEN IN THE QUESTION, Date of purchase = 01/02/2006 purchase value = $359,000 useful…
Q: ecember 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original…
A: The book value of an asset is calculated as cost less Accumulated depreciation. The gain or loss on…
Q: On December 31, Strike Company sold one of its batting cages for $23,561. The equipment had an…
A: 1. BOOK VALUE : = INITIAL COST - ACCUMULATED DEPRECIATION 2. GAIN OR LOSS : = SALE VALUE - BOOK…
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Q: On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an…
A: Loss on disposal of asset = Equipment - Accumulated depreciation = $230,200 - $207,180 = $23,020
Q: n December 31, Strike Company sold one of its batting cages for $194,607. The equipment had an…
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Q: On December 31, Strike Company sold one of its batting cages for $12,489. The equipment had an…
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On December 31, Strike Company sold one of its batting cages for $224,697. The equipment had an original cost of $264,350 and has
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- On December 31, Strike Company sold one of its batting cages for $12,489. The equipment had an initial cost of $427,900 and has accumulated depreciation of $406,505. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.Loss of $12,489 b.Loss of $8,906 c.Gain of $8,906 d.Gain of $12,489On December 31, Strike Company sold one of its batting cages for $13,293. The equipment had an initial cost of $413,300 and has accumulated depreciation of $392,635. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? O a. loss of $7,372 O b. gain of $7,372 O c. loss of $13,293 Od. gain of $13,293On December 31, Strike Company sold one of its batting cages for $194,607. The equipment had an original cost of $228,950 and has accumulated depreciation of $34,343. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.loss of $(34,343) b.gain of $45,791 c.no gain or loss d.can't be determined with data provided
- On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $260,520.00 with an accumulated depreciation of $247,494.00. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $29,959.80. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $29,959.80 Gain of $16,933.80 Loss of $16,933.80 Cannot be determinedOn December 31, Strike Company sold one of its batting cages for $198,177. The equipment had an original cost of $233,150 and has accumulated depreciation of $34,973. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.gain of $46,631 b.no gain or loss c.loss of $(34,973) d.can't be determined with data providedOn December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $206,400 and has accumulated depreciation of $185,760. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Equipment, credit, $206,400 b.Gain on Disposal of Asset, credit, $20,640 c.Accumulated Depreciation, debit, $206,400 d.Loss on Disposal of Asset, debit, $185,760
- On December 31, Strike Company sold one of its batting cages for $10,952. The equipment had an initial cost of $472,600 and has accumulated depreciation of $448,970. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Oa. gain of $12,678 Ob. loss of $12,678 Oc. loss of $10,952 Od. gain of $10,952On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $204,000 and has accumulated depreciation of $183,600. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Gain on Disposal of Asset, credit, $20,400 b.Equipment, credit, $204,000 c.Loss on Disposal of Asset, debit, $183,600 d.Accumulated Depreciation, debit, $204,000On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $209,525 and has accumulated depreciation of $188,572.50. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Accumulated Depreciation, debit, $209,525 b.Gain on Disposal of Asset, credit, $20,952.50 c.Loss on Disposal of Asset, debit, $188,572.50 d.Equipment, credit, $209,525
- On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Ogain of $50,000 Obloot of $50,000 Oc no gain or loss Od cannot be determinedKerr Company purchased a machine for P115,000 on January1, year 1, the company’s first day of operations. At the end of the year, the current cost of the machine was P125,000. The machine has no salvage value, a five-year life, and is depreciated by the straight-line method. For the year ended December 31,year 1, the amount of the current cost depreciation expense which would appear in supplementary current cost financial statements is P14,000 P23,000 P24,000 P25,000On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $230,200 and has accumulated depreciation of $207,180.00. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? Oa. Accumulated Depreciation, debit, $230,200 Ob. Loss on Disposal of Asset, debit, $207,180.00 Oc. Gain on Disposal of Asset, credit, $23,020.00 Od. Equipment, credit, $230,200 Previous Next