Equipment That Cost $420,000 and on Which $200,000 of Accumulated

question 92

Multiple Choice

Equipment that cost $420,000 and on which $200,000 of accumulated depreciation had been recorded was sold for $180,000 cash.The entry to record this transaction would include a

• A)gain of $40,000.
• B)loss of $40,000.
• C)credit to the Equipment account for $220,000.
• D)credit to Accumulated Depreciation for $200,000.

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Definitions:

Price of DVDs

The cost that consumers pay to purchase digital versatile discs used for storing data, especially movies and other multimedia content.

Economic Bad

Any item or service that results in a negative effect on the consumer's utility or well-being, opposite of an economic good.

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a good or service.

Perfect Substitutes

Items or services that can replace each other without any decrease in value or enjoyment for the user.