Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company purchased ten delivery vehicles at a cos

A company purchased ten delivery vehicles at a cost of $20000 each and used the...

80.2K

Verified Solution

Question

Accounting

A company purchased ten delivery vehicles at a cost of $20000 each and used the group depreciation method. which of the following entries would be correct when recording the subsequent sale of a vehicle for $8500( Group accumulated depreciation is $88000)? a. cash $8500, accumulated depreciation 8800, vehicles 17300. b. cash $8500 ,vehicles 8500. c. cash $8500, accumulated depreciation 8800, loss on sale 2700, vehicles 20000 d.cash $8500, accumulated depreciation 11500, vehicles 20000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Write a narrative essay on A time that you experienced something spooky within 300 words.

Statistics
1.2K views

e multiplication principle to solve e improvement store website listed 220 different of glass wall...

Statistics
1.2K views

Product design Electricity Setup Total 20 000 50 000 520 000 Required 1 Compute a...

Statistics
1.2K views

The uniform distribution of a random variable X is given in the figure below 0...

Calculus
1.2K views

4 Consider the vector valued function r t t i 1 t 1 Find parametric...

Accounting
1.2K views

The plant manager of the Ohio factory is responsible for two cost centers:...

Accounting
1.2K views

PLEASE SOLVE! Larkspur Company determined its ending inventory at cost and...

Accounting
1.2K views

Una empresa acaba de convertir un documento por cobrar a largo plazo en un documento...

Accounting
1.2K views

The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of...

Accounting
1.2K views

Current Attempt in Progress Cullumber Inc. acquired 20% of the outstanding common stock of Theresa...

Finance
1.2K views

Which of the following is a component of the formula used to derive a firm's...

Accounting
1.2K views

Exercise 11-5(Algo) Return on Investment (ROI)[LO11-1] Provide the missing data in the following...