Mayflower Company Had a Machine with a Cost of $123,000

question 148

Multiple Choice

Mayflower Company had a machine with a cost of $123,000 and accumulated depreciation of $87,000 that was sold at for a gain of $5,000.What amount of cash was received from the sale?

• A)$30,000
• B)$36,000
• C)$41,000
• D)$128,000

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Definitions:

Managers' Yearly Salaries

An annual financial compensation received by managers for their services to an organization.

Governmental Organizations

Entities operated by the government that aim to enforce laws, administer public policy, and provide basic services to citizens.

Private Organizations

Entities that operate independently of government control, often for profit and not directly funded by the government.

Level of Significance

A threshold set by researchers that determines the probability of rejecting the null hypothesis when it is actually true.