The Valz Corporation had a balance in its Equipment account at the beginning of the year of $650,000. During the year, equipment that originally cost $170,000 and had accumulated depreciation of $40,000 was sold for $134,000. The ending balance of the Equipment account was $550,000. What was the cost of the additional equipment purchased during the year? Multiple Choice O $70,000 $40,000 $170,000 $174,000

A company purchased equipment with a cost of $96,000. Residual value at the end of a six-year useful life is estimated to be $24,000. The company uses straight-line depreciation and sold the equipment at the end of the third year.Required:(a) Calculate accumulated depreciation by the end of the third year and then calculate the gain or loss assuming the equipment is (b) sold for $70,000, (c) sold for $50,000, or (d) retired. In addition, record the entry for the events in (b), (c), and (d). How would your answers change if the company had initially estimated the residual value to be $16,000 and the useful life to be five years?

The Weber Company purchased a mining site for $674,927 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 87,066 tons will be recovered. During the first year the company extracted 4,680 tons of ore. The depletion expense is a.$36,270.00 b.$62,964.00 c.$33,844.61 d.$45,287.00

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Kingbird Company purchased a truck for $70,300. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,300 at the end of that time. During the second year, the truck was driven 29,000 miles.Compute the depreciation for the second year under each of the methods below. Units-of-activity   $enter a dollar amount  Double-declining-balance   $enter a dollar amount

ABC Co. purchased a fixed asset for $100,000, with a useful life of five years, residual value of $9,000, and an expected total net income of $21,600 for 5 years. What is the amount of the average investment? Average investment Initial cost + salvage value / 2 = A) $9000 B) $100,000 $54,500 $37,500

Workers at Al Madar company have raised a complaint against the management that they are not provided with the hand gloves and mask to protect themselves from the toxic materials they are handling. Which of the following issue describes the given scenario? a. Societal dilemma b. Customer confidence c. Conflict of interest d. Employee safety