Tom's Roadside Burger Stand has a beginning balance in the Accumulated Depreciation—Equipment account of $260,000. The depreciation expense on the equipment for the year was $60,000
At the end of the year, the balance in the Accumulated Depreciation—Equipment account was $150,000. What was the accumulated depreciation on the equipment sold during the year?
A) $110,000
B) $90,000
C) $170,000
D) $200,000
C
Explanation: C) Accumulated Depreciation, Beg. Balance $260,000 + Depreciation Expense $60,000 - x = Accumulated Depreciation, End. Balance $150,000
x = $170,000
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Which of the following is true about the ability of a member of an LLC to bind a
member-managed LLC to a contract? A) Members of the LLC have authority to bind the LLC, and if this authority is restricted by agreement, then it will terminate any risk of the member binding the LLC to a contract. B) Members of the LLC have authority to bind the LLC to contracts only if this authority is granted in the operating agreement. C) Members of the LLC have authority to bind the LLC, and this authority cannot be taken away. D) Members of the LLC have authority to bind the LLC, and if this authority is restricted by agreement, there remains a risk that the member retains apparent authority to bind the LLC unless appropriate steps are taken.
Use the information in Table 13.8 to determine the best statement
A) Location C is the best one if volumes are quite high. B) Location A becomes the most expensive place to produce at volumes in excess of 2,000. C) The break-even quantity between A and B is less than or equal to 5,000 units. D) The break-even quantity between C and B is more than 30,000 units.