Question. Tradewinds Construction Company had 4 dump trucks, 2 excavators, and other construction machinery worth $950,000 on January 1, 2020. During the year 2020, Seabreeze Construction spent $120,000 on two new trucks. The market value of all of the company's vehicles and construction machinery was $1,020,000 on December 31, 2020. 1) In 2020, what was Seabreeze's gross investment? 2) What was the depreciation amount in 2020? 3) In 2020, what was the net investment?
Question. Tradewinds Construction Company had 4 dump trucks, 2 excavators, and other construction machinery worth $950,000 on January 1, 2020. During the year 2020, Seabreeze Construction spent $120,000 on two new trucks. The market value of all of the company's vehicles and construction machinery was $1,020,000 on December 31, 2020. 1) In 2020, what was Seabreeze's gross investment? 2) What was the depreciation amount in 2020? 3) In 2020, what was the net investment?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question. Tradewinds Construction Company had 4 dump trucks, 2
excavators, and other construction machinery worth $950,000 on
January 1, 2020. During the year 2020, Seabreeze Construction spent
$120,000 on two new trucks. The market value of all of the
company's vehicles and construction machinery was $1,020,000 on
December 31, 2020.
1) In 2020, what was Seabreeze's gross investment?
2) What was the depreciation amount in 2020?
3) In 2020, what was the net investment?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc002b21-e0fb-4fec-9828-d28a663e8078%2Fd6f3580a-eb5f-479b-9242-67ccf614b635%2Fwfah9i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question. Tradewinds Construction Company had 4 dump trucks, 2
excavators, and other construction machinery worth $950,000 on
January 1, 2020. During the year 2020, Seabreeze Construction spent
$120,000 on two new trucks. The market value of all of the
company's vehicles and construction machinery was $1,020,000 on
December 31, 2020.
1) In 2020, what was Seabreeze's gross investment?
2) What was the depreciation amount in 2020?
3) In 2020, what was the net investment?
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