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Additional Details
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P... |
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J R | Help Please!? |
Your Company’s first year of operations was 2004. Its December 31 2004 published balance sheet included total assets of $80,000. This amount was composed of total current assets of $20,000, and only two fixed assets (equipment and land). The amount of land was $40,000, and the amount of accumulated depreciation – equipment was $4,000.
What was the original amount paid for equipment in 2004?
Additional Details
Sorry, could you please explain it |
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Mal
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total amount of assets before dep is $84,000 . take of 20000 for current assets and 40000 for land the balance is 24000 the orig
24000 is the original |
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fearslady
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CURRENT ASSETS $20,000 (a)
LAND 40,000 (b)
EQUIPMENT 24,000 (c)
ACC. DEPRECIATION (4,000) (d)
TOTAL ASSETS $80,000
or a+b+c minus d
$24,000 is the correct answer; you just have to "back" into it. |
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big bad momma
 |
do your own homework |
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misslabeled
 |
It's scary to think that someone might actually trust you with thier accounting issues knowing you asked strangers to help you cheat on your homework. |
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TXBLKGRL
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16,000 |
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anonomus
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I THINK 16,000 |
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LostandConfused
 |
is this a home work question? |
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Soy
 |
$84,000.00
Total assets + depreciation. |
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Johnny P
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Waste your time elsewhere. |
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mat2073
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$20,000 |
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