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levacccp [35]
3 years ago
9

Equipment, beginning of year $ 340,000 Equipment, end of year 420,000 Accumulated depreciation, beginning of year 190,000 Accumu

lated depreciation, end of year 184,000 Equipment with a cost of $20,000 and a book value of $6,000 was sold during the year for cash of $18,000. Additional equipment was purchased during the year for cash. What was the amount of cash paid for purchases of equipment during the year
Business
1 answer:
sertanlavr [38]3 years ago
3 0

Answer:

$100,000

Explanation:

The computation of the amount of cash paid for the purchase of equipment is shown below:

= Ending balance of an equipment + book value of the equipment - beginning balance of an equipment

= $420,000 + $20,000 - $340,000

= $440,000 - $340,000

= $100,000

We simply applied the above formula so that the amount of cash paid for the purchase of the equipment could come

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Answer:

C $49,000

Explanation:

none

4 0
2 years ago
Ramon incurred $83,100 of interest expense related to his investments this year. His investment income included $34,500 of inter
cestrela7 [59]

Answer:

$72,000

Explanation:

To calculate investment interest expense dedcution, we need to know the total investment income  & total investment interest expenses

Then there're 2 scenarios as followings:

  • If the investment interest expenses are less than the net investment income, the entire investment interest expense is deductible.
  • If the investment interest expenses are more than the net investment income, we can deduct the expenses up to the net investment income amount. The rest of the expenses are carried forward to next year.

In this example, Ramon's investment income is  $72,000 ($34,500 of interest and a $37,500 net capital gain on the sale of securities); is lower than his interest expenses of $83,100.

So Ramon is entiled to deduct $72,000 all the entire investment interest expense in current year

7 0
3 years ago
Becky fenton has 80/160/90 automobile insurance coverage. if two other people are awarded $125,000 each for injuries in an auto
OLga [1]
50000 because of the 80
7 0
3 years ago
What is the acceleration of an object that has a mass of 4.0 kg if the net force acting on it is 26N
Lynna [10]
Use Newton's Second Law: Fnet = ma
where Fnet = total net force, m = mass of object, and a = acceleration of object.

You are given Fnet = 26N and m = 4.0kg. Plug them into the equation and solve for a:
26 = 4.0a
a = 6.5

The answer is 6.5 m/s^2
7 0
3 years ago
Scoop Masters Inc. has been charged by Fab Flavors Corp. with stealing Fab Flavors' patented process for making ice cream. After
amm1812

Answer:

No - FALSE

Explanation:

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8 0
3 years ago
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