Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__.
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Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300.
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- Saint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Fill in the blankSaint Hill Inc. recorded a loss of $9,800 when it sold a van that originally cost $87,000 for $14,300. Accumulated depreciation on the van must have been__. Answer me this accounting questionCan you please answer the general accounting question?
- What journal entry will Mason Builders record on these general accounting question?Morrell Corporation sold a computer at the end of its useful life for $300. The computer had an original capitalized cost of $5,000, and its Accumulated Depreciation was $4,600. Record the journal entry for the sale of the computer.The Johnson Company bought a truck costing $24,000 two and a half years ago. The truck's estimated life was four years at the time of purchase. It was accounted for by using straight line depreciation with zero salvage value. The truck was sold yesterday for $19,000. What taxable gain must be reported on the sale of the truck?
- A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and Photo Center sold the machine for $6,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $1,000 C. Loss of $1,000 D. Loss of $44,000Good Dairy sold a delivery truck for cash of $6,400. The original cost of the truck was $26,000, and a loss of $4,000 was recognized on the sale. The accumulated depreciation at the date of sale must have been: A . $15,600. B. $12,400. C. $8,400. D. $19,600.What is the result of this disposal transaction?
- How to do this, please explain. Thank you.After recording depreciation for the current year, Media Mania Incorporated decided to discontinue using its printing equipment. The equipment had cost $748,000, accumulated depreciation was $547,000, and its fair value (based on estimated future cash flows from selling the equipment) was $48,000. Determine whether the equipment is impaired. Prepare the journal entries to record the impairment in asset if any. Fill in the blank : The fair value is ________ and the book value is ___________ , therefore this asset (is/is not) impaired Record journal entry to remove accumulated depreciation Record journal entry for the impairment lossWhat is the depreciation base of the machine on these financial accounting question?