SlideShare une entreprise Scribd logo
1  sur  2
1.
Portland Company sold equipment with a book value (historical cost –accumulated
depreciation) of $1,200 for $1,100 cash. Total depreciation expense for the year was $800.
The beginning and ending balances in the Accumulated Depreciation account are $2,000 and
$1,400 respectively. The beginning and ending balances in the Property, Plant, and Equipment
account are $7,000 and $7,400 respectively. How much equipment did Portland Company
purchase during the year?
1.
Portland Company sold equipment with a book value (historical cost –accumulated
depreciation) of $1,200 for $1,100 cash. Total depreciation expense for the year was $800.
The beginning and ending balances in the Accumulated Depreciation account are $2,000 and
$1,400 respectively. The beginning and ending balances in the Property, Plant, and Equipment
account are $7,000 and $7,400 respectively. How much equipment did Portland Company
purchase during the year?
Solution
Beginning balance of property,plant and equipment = $7,000
Less: Book Value of equipment sold                     = $1,200
Less: Depreciation
Expense                                = $800
Total book value (Before purchases) (A)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â = $5,000
Ending Book value (B)
                                       Â
= $7,400
Purchases during the year (B-A)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
= $2,400
1- Portland Company sold equipment with a book value (historical cost.docx

Contenu connexe

Plus de tjames442

1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
tjames442
 
1- What is a database- Give some examples- 2- What is a database manag.docx
1- What is a database- Give some examples- 2- What is a database manag.docx1- What is a database- Give some examples- 2- What is a database manag.docx
1- What is a database- Give some examples- 2- What is a database manag.docx
tjames442
 
1- What are phonons- What information can be obtained by studying the.docx
1- What are phonons- What information can be obtained by studying the.docx1- What are phonons- What information can be obtained by studying the.docx
1- What are phonons- What information can be obtained by studying the.docx
tjames442
 
1- Single convex lenses can be used to make images of far away objects.docx
1- Single convex lenses can be used to make images of far away objects.docx1- Single convex lenses can be used to make images of far away objects.docx
1- Single convex lenses can be used to make images of far away objects.docx
tjames442
 
1- Materials are deep-seated in human culture- Do you agree with this.docx
1- Materials are deep-seated in human culture- Do you agree with this.docx1- Materials are deep-seated in human culture- Do you agree with this.docx
1- Materials are deep-seated in human culture- Do you agree with this.docx
tjames442
 
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
tjames442
 
1- Indentured servitude is no longer legal- An indenture was a contrac.docx
1- Indentured servitude is no longer legal- An indenture was a contrac.docx1- Indentured servitude is no longer legal- An indenture was a contrac.docx
1- Indentured servitude is no longer legal- An indenture was a contrac.docx
tjames442
 

Plus de tjames442 (20)

1- The following data were reported by a corporation- Authorized share.docx
1- The following data were reported by a corporation- Authorized share.docx1- The following data were reported by a corporation- Authorized share.docx
1- The following data were reported by a corporation- Authorized share.docx
 
1- The following change is physical or chemical- Explain why- Water bo.docx
1- The following change is physical or chemical- Explain why- Water bo.docx1- The following change is physical or chemical- Explain why- Water bo.docx
1- The following change is physical or chemical- Explain why- Water bo.docx
 
1- Which of the following is a situation in which an involuntary trans.docx
1- Which of the following is a situation in which an involuntary trans.docx1- Which of the following is a situation in which an involuntary trans.docx
1- Which of the following is a situation in which an involuntary trans.docx
 
1- Which of the following is NOT a function of a firewall- a- Blocks o.docx
1- Which of the following is NOT a function of a firewall- a- Blocks o.docx1- Which of the following is NOT a function of a firewall- a- Blocks o.docx
1- Which of the following is NOT a function of a firewall- a- Blocks o.docx
 
1- What soil characteristics influence compressibility 2- Why is conso.docx
1- What soil characteristics influence compressibility 2- Why is conso.docx1- What soil characteristics influence compressibility 2- Why is conso.docx
1- What soil characteristics influence compressibility 2- Why is conso.docx
 
1- What type of encryption does PKI use- Symmetric Asymmetric DES AES.docx
1- What type of encryption does PKI use- Symmetric Asymmetric DES AES.docx1- What type of encryption does PKI use- Symmetric Asymmetric DES AES.docx
1- What type of encryption does PKI use- Symmetric Asymmetric DES AES.docx
 
1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
1- What kind of contract did Lulene and Ellen have- What kinds of issu.docx
 
1- what is the net ionic equation for the neutralization of HBr with K.docx
1- what is the net ionic equation for the neutralization of HBr with K.docx1- what is the net ionic equation for the neutralization of HBr with K.docx
1- what is the net ionic equation for the neutralization of HBr with K.docx
 
1- What is outsourcing- What are advantages and disadvantages of outso.docx
1- What is outsourcing- What are advantages and disadvantages of outso.docx1- What is outsourcing- What are advantages and disadvantages of outso.docx
1- What is outsourcing- What are advantages and disadvantages of outso.docx
 
1- What is the difference between OSI and TCP-IP layered models-Soluti.docx
1- What is the difference between OSI and TCP-IP layered models-Soluti.docx1- What is the difference between OSI and TCP-IP layered models-Soluti.docx
1- What is the difference between OSI and TCP-IP layered models-Soluti.docx
 
1- What is a database- Give some examples- 2- What is a database manag.docx
1- What is a database- Give some examples- 2- What is a database manag.docx1- What is a database- Give some examples- 2- What is a database manag.docx
1- What is a database- Give some examples- 2- What is a database manag.docx
 
1- What are the functional sources of power- 2- Distinguish between pe.docx
1- What are the functional sources of power- 2- Distinguish between pe.docx1- What are the functional sources of power- 2- Distinguish between pe.docx
1- What are the functional sources of power- 2- Distinguish between pe.docx
 
1- What are phonons- What information can be obtained by studying the.docx
1- What are phonons- What information can be obtained by studying the.docx1- What are phonons- What information can be obtained by studying the.docx
1- What are phonons- What information can be obtained by studying the.docx
 
1- void fun(int &j) { j++- } int main() { int i - 20- fun(i)- printf(-.docx
1- void fun(int &j) { j++- } int main() { int i - 20- fun(i)- printf(-.docx1- void fun(int &j) { j++- } int main() { int i - 20- fun(i)- printf(-.docx
1- void fun(int &j) { j++- } int main() { int i - 20- fun(i)- printf(-.docx
 
1- Single convex lenses can be used to make images of far away objects.docx
1- Single convex lenses can be used to make images of far away objects.docx1- Single convex lenses can be used to make images of far away objects.docx
1- Single convex lenses can be used to make images of far away objects.docx
 
1- Materials are deep-seated in human culture- Do you agree with this.docx
1- Materials are deep-seated in human culture- Do you agree with this.docx1- Materials are deep-seated in human culture- Do you agree with this.docx
1- Materials are deep-seated in human culture- Do you agree with this.docx
 
1- Modern science began when knowledge about the behavior of nature in.docx
1- Modern science began when knowledge about the behavior of nature in.docx1- Modern science began when knowledge about the behavior of nature in.docx
1- Modern science began when knowledge about the behavior of nature in.docx
 
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
1- Match the following- 1- Repressive state a- Indonesia under Suharto.docx
 
1- Jacob and Chloe are married and together have AGI of $30-000- They.docx
1- Jacob and Chloe are married and together have AGI of $30-000- They.docx1- Jacob and Chloe are married and together have AGI of $30-000- They.docx
1- Jacob and Chloe are married and together have AGI of $30-000- They.docx
 
1- Indentured servitude is no longer legal- An indenture was a contrac.docx
1- Indentured servitude is no longer legal- An indenture was a contrac.docx1- Indentured servitude is no longer legal- An indenture was a contrac.docx
1- Indentured servitude is no longer legal- An indenture was a contrac.docx
 

Dernier

Making and Justifying Mathematical Decisions.pdf
Making and Justifying Mathematical Decisions.pdfMaking and Justifying Mathematical Decisions.pdf
Making and Justifying Mathematical Decisions.pdf
Chris Hunter
 
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in DelhiRussian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
kauryashika82
 
1029 - Danh muc Sach Giao Khoa 10 . pdf
1029 -  Danh muc Sach Giao Khoa 10 . pdf1029 -  Danh muc Sach Giao Khoa 10 . pdf
1029 - Danh muc Sach Giao Khoa 10 . pdf
QucHHunhnh
 
Seal of Good Local Governance (SGLG) 2024Final.pptx
Seal of Good Local Governance (SGLG) 2024Final.pptxSeal of Good Local Governance (SGLG) 2024Final.pptx
Seal of Good Local Governance (SGLG) 2024Final.pptx
negromaestrong
 

Dernier (20)

Unit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptxUnit-V; Pricing (Pharma Marketing Management).pptx
Unit-V; Pricing (Pharma Marketing Management).pptx
 
Energy Resources. ( B. Pharmacy, 1st Year, Sem-II) Natural Resources
Energy Resources. ( B. Pharmacy, 1st Year, Sem-II) Natural ResourcesEnergy Resources. ( B. Pharmacy, 1st Year, Sem-II) Natural Resources
Energy Resources. ( B. Pharmacy, 1st Year, Sem-II) Natural Resources
 
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
 
microwave assisted reaction. General introduction
microwave assisted reaction. General introductionmicrowave assisted reaction. General introduction
microwave assisted reaction. General introduction
 
Asian American Pacific Islander Month DDSD 2024.pptx
Asian American Pacific Islander Month DDSD 2024.pptxAsian American Pacific Islander Month DDSD 2024.pptx
Asian American Pacific Islander Month DDSD 2024.pptx
 
Making and Justifying Mathematical Decisions.pdf
Making and Justifying Mathematical Decisions.pdfMaking and Justifying Mathematical Decisions.pdf
Making and Justifying Mathematical Decisions.pdf
 
Key note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdfKey note speaker Neum_Admir Softic_ENG.pdf
Key note speaker Neum_Admir Softic_ENG.pdf
 
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in DelhiRussian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
Russian Escort Service in Delhi 11k Hotel Foreigner Russian Call Girls in Delhi
 
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual  Proper...General Principles of Intellectual Property: Concepts of Intellectual  Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
 
Mixin Classes in Odoo 17 How to Extend Models Using Mixin Classes
Mixin Classes in Odoo 17  How to Extend Models Using Mixin ClassesMixin Classes in Odoo 17  How to Extend Models Using Mixin Classes
Mixin Classes in Odoo 17 How to Extend Models Using Mixin Classes
 
ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.ICT role in 21st century education and it's challenges.
ICT role in 21st century education and it's challenges.
 
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptxINDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
 
1029 - Danh muc Sach Giao Khoa 10 . pdf
1029 -  Danh muc Sach Giao Khoa 10 . pdf1029 -  Danh muc Sach Giao Khoa 10 . pdf
1029 - Danh muc Sach Giao Khoa 10 . pdf
 
Measures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and ModeMeasures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and Mode
 
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
 
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
Presentation by Andreas Schleicher Tackling the School Absenteeism Crisis 30 ...
 
Z Score,T Score, Percential Rank and Box Plot Graph
Z Score,T Score, Percential Rank and Box Plot GraphZ Score,T Score, Percential Rank and Box Plot Graph
Z Score,T Score, Percential Rank and Box Plot Graph
 
Seal of Good Local Governance (SGLG) 2024Final.pptx
Seal of Good Local Governance (SGLG) 2024Final.pptxSeal of Good Local Governance (SGLG) 2024Final.pptx
Seal of Good Local Governance (SGLG) 2024Final.pptx
 
Micro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdfMicro-Scholarship, What it is, How can it help me.pdf
Micro-Scholarship, What it is, How can it help me.pdf
 
This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.
 

1- Portland Company sold equipment with a book value (historical cost.docx

  • 1. 1. Portland Company sold equipment with a book value (historical cost –accumulated depreciation) of $1,200 for $1,100 cash. Total depreciation expense for the year was $800. The beginning and ending balances in the Accumulated Depreciation account are $2,000 and $1,400 respectively. The beginning and ending balances in the Property, Plant, and Equipment account are $7,000 and $7,400 respectively. How much equipment did Portland Company purchase during the year? 1. Portland Company sold equipment with a book value (historical cost –accumulated depreciation) of $1,200 for $1,100 cash. Total depreciation expense for the year was $800. The beginning and ending balances in the Accumulated Depreciation account are $2,000 and $1,400 respectively. The beginning and ending balances in the Property, Plant, and Equipment account are $7,000 and $7,400 respectively. How much equipment did Portland Company purchase during the year? Solution Beginning balance of property,plant and equipment = $7,000 Less: Book Value of equipment sold                     = $1,200 Less: Depreciation Expense                                = $800 Total book value (Before purchases) (A)                = $5,000 Ending Book value (B)                                         = $7,400 Purchases during the year (B-A)                          = $2,400