Peterson receive from the sale of the machinery, Accounting Basics

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Peterson receive from the sale of the machinery

Peterson Company purchased machinery for $480,000 on January 1. 2009. Straight-line depreciation gas been recorded based on a $30,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2013 at a gain of $9,000. How much cash did Peterson receive from the sale of the machinery?

A) $99,000

B) $69,000

C) $81,000

d) $129,000

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Accounting Basics: Peterson receive from the sale of the machinery

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Accounting Basics: Peterson receive from the sale of the machinery

Reference No:- TGS064442

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Generally accepted accounting principles

Q : Technological feasibility problem

Q : Transaction and your ethical responsibilities

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Q : Peterson receive from the sale of the machinery

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Peterson receive from the sale of the machinery

Reference No:- TGS064442

Recent Questions Asked Accounting Basics

Q : Generally accepted accounting principles

Q : Technological feasibility problem

Q : Transaction and your ethical responsibilities

Q : Compute the gain recognized by smeder

Q : Peterson receive from the sale of the machinery

Q : Integrated set of performance measures

Q : Expected to increase operating earnings

Q : Financial and managerial accounting impact

Q : Bonds payable to generate cash for expansion

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