Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a government constructed a bridge 20 years ago at

A government constructed a bridge 20 years ago at a cost of $30 million. The...

60.1K

Verified Solution

Question

Accounting

A government constructed a bridge 20 years ago at a cost of $30 million. The replacement cost of the bridge today would be $90 million. The bridge has a useful life of 60 years. In its governmentwide statements the government should record the bridge at a value, net of accumulated depreciation, of

A.) $20 million. B.) $60 million. C.) $90 million. D.) $0.

Note: please explain and show calculation as to why option "A" is the correct answer. Thanks!

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

Economics
1.2K views

Here is the context in which you should write your final exam. Bronner’s Christmas Store is...

General Management
1.2K views

Construct an External and Internal Factor Evaluation (EFE) Matrix for Hospital

Biology
1.2K views

Include two of the following Anthozoa Hydrozoa Scyphozoa Include two of the following Bivalvia Cephalopoda...

Calculus
1.2K views

For the same function f x 5x 2x 3x 1 find all x values where...

Accounting
1.2K views

"On October 1, 2012, ABC Company collected $10,000 for consulting services to be performed from...

Accounting
1.2K views

Which of the following accounts is closed at the end of the accounting period? A...

Accounting
1.2K views

Aqua Inc., makes statues for use in fountains. On January 1, 2014 the Company paid...

Accounting
1.2K views

In 1998 , the average price of a gallon of gas was $1.07. Today, the...

Accounting
1.2K views

Gross Income: $900,000 Expenses: $200,000 Asset Cost: $150,000 100%...

Accounting
1.2K views

MACRS ignores salvage value. True or False

Accounting
1.2K views

Why do investors pay attention to companies disclosing sustainability reports and corporate social responsibility reports?

Accounting
1.2K views

A manufacturing company reports the information below. Note: Assume all raw materials are used as...