Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tidy limited purchased a new van on january 1, 201

Tidy Limited purchased a new van on January 1, 2018. The van cost $20,000. It...

80.2K

Verified Solution

Question

Accounting

imageimage

Tidy Limited purchased a new van on January 1, 2018. The van cost $20,000. It has an estimated life of Five years and the estimated residual value is $5,000. Tidy uses the double-declining-balance method to compute depreciation. What is the adjusted balance in the Accumulated Depreciation account at the end of 2019? Multiple Choice $12,800. $4,800 oooo $3,200 $9,600. Tonto Company purchased property for $140,000. The property included a building, equipment and land. The building was appraised at $78,000, the land at $53,000, and the equipment at $26,000. What is the amount of cost to be allocated to the building in the accounting records? (Round your intermediate calculations to 3 decimal places.) Multiple Choice O so $69,580 $140,000 $78,000

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

Chemistry
1.2K views

A professor titrated 0.47 g of an unknown monoprotic weak acid with 0.0973 M NaOH. The titration...

Programming
1.2K views

Lab 3.1 Create your objects in the stack (not on the heap). Add a friend function, kilotopound,...

Physics
1.2K views

A car is parked on a cliff overlooking the ocean on an incline that makes an...

Physics
1.2K views

In the vertices of a square of side 2x10 ^ -7 four protons are placed. A...

Physics
1.2K views

11 Consider the following circuit 10V A 252 252 10V f 5V C 192 252...

Geometry
1.2K views

How many of the 25 customers named butterscotch O A 3 OB 5 OC 4...

Geometry
1.2K views

Find the value of the variable so that DE BC 11 E 13 25 Find...

Statistics
1.2K views

16 An experimenter believes that two new exercise programs are more effective than any current...

Calculus
1.2K views

In September (30 days), the temperature in a particular city reached 100F on 24 days....

Accounting
1.2K views

Sally Lawn Services has a formal agreement with Mr. Bizza to treat...

Accounting
1.2K views

Jan. 1 Dec. 31 Assets: Cash $25,000 $36,950 Accounts receivable 78,000 75,100 Inventory 36,000 45,300...

Accounting
1.2K views

Cotuit Company has a current ratio of 3.4 and an acid-test ratio of 2.6. The...