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12.04.2022 23:23
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A company had a tractor destroyed by fire. The tractor originally cost $137,000
A company had a tractor destroyed by fire. The tractor originally cost $137,000 with accumulated depreciation of $70,800. The proceeds from the insurance company were $32,000. The company should recognize:
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luisanavarrogarcia
4,8(87 marks)
A gain of $29,800.
Explanation:
The computation of the amount recognized is shown below:
Original Cost $137,000
Less: Accumulated Depreciation ($70,800)
Written down value $66,200
Less Proceeds from Insurance company ($96,000)
Gain $29,800
Therefore the gain is $29,800 and the same is to be recognized
bankskry
4,5(69 marks)
A: bush
Step-by-step explanation:
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