A Company Bought a New Display Case for $42,000 and Was

question 44

Multiple Choice

A company bought a new display case for $42,000 and was given a trade-in of $2,000 on an old display case,so the company paid $40,000 cash with the trade-in.The old case had an original cost of $37,000 and accumulated depreciation of $34,000.The company should record the value of new display case at:

• A)$2,000
• B)$3,000
• C)$40,000
• D)$42,000
• E)$43,000

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Definitions:

Diazepam

A type of benzodiazepine medication used to treat anxiety, seizures, muscle spasms, and alcohol withdrawal symptoms.

Milliliters

A metric unit of volume equal to one-thousandth of a liter, commonly used for measuring liquids.

Cimetidine HCl

A medication that reduces the production of stomach acid, used to treat ulcers and gastroesophageal reflux disease (GERD).

Trade Name

The marketed name under which a product is sold, often protected as a registered trademark.