题目
题目

COMM_V 370 101-108 2025W1 COMM 370-Practice Midterm-2025-W1

多重下拉选择题

Concerning salvage value when assets are sold, letting: P = purchase price S: salvage value B: residual book value, When S < P:  A. If S = B No tax adjustments are required. B. If S > B There is recaptured depreciation. C. If S < B There is a terminal loss.

查看解析

查看解析

标准答案
Please login to view
思路分析
We start by restating the given scenario and the three proposed statements. - Scenario: When selling an asset, with P = purchase price, S = salvage value, and B = residual book value, and given that S < P. - Option A (No tax adjustments are required if S = B): This statement claims that when the salvage value equals the book value, there are no tax adjustments upon sale. In many tax frameworks, if the sale price equals the tax basis (i.e., S = B) there is no gain or loss to the tax authorities, so no depreciation recapture or terminal loss arises. Therefore, this option describes a situat......Login to view full explanation

登录即可查看完整答案

我们收录了全球超50000道考试原题与详细解析,现在登录,立即获得答案。

类似问题

An asset acquired January 1, 2027, for $14,800 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold for $5,200 on January 1, 2029. Which of the following entries should be used to record the sale?

When a company sells machinery at a price equal to its book value, this transaction would be recorded with an entry that would include the following:

A company sells a plant asset that originally cost $336000 for $93000 on December 31, 2025. The accumulated depreciation account had a balance of $168000 after the current year's depreciation of $28000 had been recorded. The company should recognize a

Question1(k) XYZ Limited purchased land for $10 million. In the second year, the land was revalued to $15 million. In the third year, the land was revalued to $12 million. At the beginning of the fourth year, the land was sold for $11 million.Which of the following belongs to the journal entries for the sale of land? CR Land 10 million CR Land 11 million DR Loss on sale 1 million CR Gain on sale 1 million DR Retained profits 2 million ResetMaximum marks: 1 Flag question undefined

更多留学生实用工具

加入我们，立即解锁 海量真题 与 独家解析，让复习快人一步！