Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need help, plese show work 2. gain or loss on sa

need help, plese show work 2. Gain or Loss on Sale of PPE...

80.2K

Verified Solution

Question

Accounting

image
image
need help, plese show work
2. Gain or Loss on Sale of PPE On December 31, 2020, Hamilton Inc. sold a used industrial crane for $600,000cash. The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31, 2020. What is the gain or loss from the December 31, 2020 equipment sale? A) $600,000 loss. B) $200,000 loss. C) $200,000 gain. D) $600,000 gain. Red sells $25,000 of products to Yellow on June 19 with terms 3/10,n/90. Record the journal entries for Red if Yellow pays on June 25

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

Basic Math
1.2K views

A water balloon launcher (a is used to propel a water balloon from a sidewalk that...

General Management
1.2K views

2. Lean concepts such as continuous improvement and waste reduction have long been used by manufacturing...

Advance Math
1.2K views

Using the method of separation of variables and Fourier series, solve the following heat conduction problem in...

Accounting
1.2K views

Santana Rey expects sales of Business Solutions’s line of computer workstation furniture to equal 300 workstations...

Biology
1.2K views

An 8-year-old boy has had diarrhea, chills, fever, abdominal cramps, and vomiting for 2 days....

Physics
1.2K views

A capillary tube is attached horizontally to a constant head arrangement If the radius of...

Basic Math
1.2K views

A pizzeria will bake and deliver a round pizza with a 4 inch diameter Find...

Basic Math
1.2K views

What is the volume of a cylinder that is 15-m tall and has a radius...

Accounting
1.2K views

Can someone help me with the ratio analysis with the balance, income statement and cash...

Accounting
1.2K views

Helen Crawford created a corporation...

Accounting
1.2K views

The following department data are available: Total materials costs ...

Accounting
1.2K views

(TCO D) Hanks Company produces a single product Operating data for the company and its...