The book value at the time of the sale is ($50,000 - $40,000) = $10,000. It sold for $11,000 which is $1,000 above book value, so there would be a $1,000 gain The excess of the cost of an acquired company over the sum of the market value of its net assets is __________.
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The equipment was originally purchased for $75,000. At the time of the sale, the equipment had accumulated depreciation of $50,000. Calculate the gain or loss to be recorded on the sale of equipment. A) Gain of $10,000 B) Loss of $15,000 C) Loss of $35,000 D) Gain of $15,000 Select one: OA Ос D OB tic.docx 5 Binomial
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2002 Komatsu PC200LC-7 excavator for sale in Lexa, Arkansas. Item DJ7411 will sell on November 4th, 2021. Purple Wave is selling a used Hydraulic Excavator in Arkansas. This item is a 2002 Komatsu PC200LC-7 excavator with the following: Hours: 3,269 on meter, Serial: C50009
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Gain on sale of equipment $10,000 Depreciation expense $3,000 Equipment 30,000 Accumulated depreciation 3,000 A working paper entry to consolidate the financial statements of Bigg and Little on December 31, 2014 included a A) debit to equipment for $10,000. B) credit to gain on sale of equipment for $10,000.
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$50,000 / 5 years = $10,000 per year $10,000 = portion of cost to be expensed for each full year of use Depreciation Expense-Machinery 10,000 Accumulated Depreciation- Machinery 10,000 Practice Problem #1 Company Q purchased a piece of equipment that cost $250,000 on January 1, …
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