On January 1, 2015, Morgantown Co purchased five machines at a price of $10,000 per machine. Because the estimated life was five years and no salvage value was expected, a group depreciation rate of 20% was used. On January 1, 2017, one of the machines was sold for $5,000. The correct entry to record the sale of the machine is
A) Cash 5,000Loss on Sale of Machine 1,000Accumulated Depreciation 4,000Machines 10,000
B) Cash 5,000Machines 5,000
C) Cash 5,000Loss on Sale of Machines 5,000Machines 10,000
D) Cash 5,000Accumulated Depreciation 5,000Machines 10,000
D
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Oregon returns, 40 and 40N, require a copy of federal form 1040, 1040A, or 1040EZ
a. true b. false
Factor analysis can be used in which of the following circumstances?
A) To identify underlying dimensions, or factors, that explain the correlations among a set of variables. B) To identify a new, smaller set of uncorrelated variables to replace the original set of correlated variables in subsequent multivariate analysis. C) To identify a smaller set of salient variables from a larger set for use in subsequent multivariate analysis. D) All are correct circumstances.