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GenaCL600 [577]
3 years ago
11

. Dallas Wildcat Drilling Co. sells an oil-drilling rig for $3,000,000. The drilling rig was purchased in 2013 for $2,000,000. D

epreciation deductions of $1,200,000 have been taken up to the time of sale. What amount and character of gain will Dallas report from the sale of this asset?
Business
1 answer:
olga2289 [7]3 years ago
5 0

Answer:

$2,200,000 gain

Explanation:

When the amount received from the disposal of an asset is lower than the carrying or net book value (NBV) of the asset, the company makes a loss on disposal otherwise, the company makes a gain on disposal.

The carrying amount of the asset is the difference between the asset's cost and accumulated depreciation as at the date of disposal.

Asset NBV = $2,000,000 - $1,200,000

= $800,000

Gain/(loss) on disposal = $3,000,000 - $800,000

= $2,200,000

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The answer is b the type of job for which you are applying
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Using her beloved grandmother's recipe for fruit-filled empanadas, Marianna opens a drive-up kiosk specializing in these sweet t
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Answer:

Franchising

Explanation:

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3 years ago
On August 29, Paris and Helen agree that Paris will supply Helen with natural gas for one year beginning on January 1 and Helen
madam [21]

Answer:

The correct answer is letter "B": False.

Explanation:

Anticipatory repudiation is the act by which one party notifies the other intentions of not continuing with their relationship -typically tied to a contract- because of different factors. Those factors sometimes are specified in the terms of the contract and must be met for a Court to qualify the case as an anticipatory breach.

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5 0
3 years ago
The ________ outlawed the paying of bribes to foreign government officials to gain business. Group of answer choices Convention
nekit [7.7K]

Answer:

Hello There!!

Explanation:

I think the answer is The Foreign Corrupt Practices Act.

hope this helps,have a great day!!

~Pinky~

5 0
3 years ago
Read 2 more answers
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3 years ago
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