Multiple Choice
On April 30, 2019, TWC & Brothers sold some used equipment for $84,000. The accumulated depreciation on the equipment when sold was $96,000. TWC & Brothers properly recorded a $33,000 gain on the sale.
The original cost of the equipment when it was purchased several years ago by TWC & Brothers must have been:
A) $ 42,000
B) $ 75,000
C) $117,000
D) $147,000
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Scheuller Company had machinery that had originally
Q3: On January 1, 2019, Shadow, Inc. purchased
Q4: Saul Company purchased a tractor at a
Q5: Spencer Company purchased a tractor at a
Q6: On January 1, 2016, Chipmunk Company purchased
Q7: Joy Machinery acquired a new machine on
Q8: Kaitlin Block Publishing, a textbook publishing firm,
Q9: On January 1, 2019, Presto, Inc. purchased
Q10: Tidy Corporation purchased a depreciable asset for
Q11: On April 1, 2019, Albert, Inc. acquired