Answer:
$300,000
Explanation:
Given:
Original cost = $250,000
Fair Value = $300,000
Find:
Land would be record
Computation:
If a revenue company accepts some fixed asset as a gift, as per the Internal Revenue Service and GAAP, then the property should be reported at Market Value.
The market value is $300,000 in this situation, so the property must be recorded at $300,000.
Answer:
C. a government plan that provides monthly payments to people upon retirement
i believe it's helps you
Answer:
B. the winning potential of the sports team using the stadium
Explanation:
Answer:
Annual depreciation= $25,375
Explanation:
Giving the following information:
Purchase price= $109,200
Salvage value= $4,200
Useful life in miles= 120,000
<u>To calculate the depreciation expense, we need to use the units-of-activity method:</u>
<u></u>
Annual depreciation= [(original cost - salvage value)/useful life of production in miles]*miles operated
<u>2018:</u>
Annual depreciation= [(109,200 - 4,200) / 120,000]*29,000
Annual depreciation= 0.875*29,000
Annual depreciation= $25,375