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Nikolay [14]
3 years ago
13

A company purchased a machine for $100,000. The accumulated depreciation on the machine is now $100,000. Which of the following

statements is TRUE regarding the disposal of the machine for no cash proceeds?
A) There will be no gain or loss on the disposal.
B) The journal entry to record the disposal will decrease net assets.
C) The cost of the asset, but not its accumulated depreciation, must be removed from the books.
D) A gain or loss on the disposal can occur.
Business
1 answer:
Ostrovityanka [42]3 years ago
3 0

Answer:

A) There will be no gain or loss on the disposal.

Explanation:

Given that

Purchase value of a machine = $100,000

Accumulated depreciation = $100,000

Based on the above information

Since the purchase value is equivalent to the accumulated depreciation i.e. both the amount consist of $100,000

So at the time of sale of the machine no loss or gain should be there

Hence, the correct option is A.  

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Answer:

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(TCO 2) An object of interest to the end user is
emmasim [6.3K]

An object of interest to the end user is <u>entity</u>.

<u>Explanation:</u>

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3 years ago
A voip caller wishing to contact another sends an invite message to ________.
kolbaska11 [484]
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4 0
4 years ago
Which of the following institutions may be owned by shareholders OR members?
Sladkaya [172]

Answer:

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6 0
3 years ago
In the current year, Mosely Company reported a net cash inflow from operating activities of $140,000. It also collected $10,000
balandron [24]

Answer:

$115,000

Explanation:

In calculating free cash flow the formula is stated below:

FCF=EBIT(1-tax rate)+depreciation and amortisation-changes in working capital-Capital Expenditure

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