Show all work/explanations for full credit ! A company purchased a used machine

Question

Show all work/explanations for full credit !

A company purchased a used machine for $80,000. The machine acquire installation costs of $8,000 and insurance while in transit of $500. At which of the following amounts would the equipment be recorded? $88,500 $80,000 $88,000 $80,500 A plant asset is fully depreciated when the book value is: equal to the market value. Equal to the salvage value. greater than the salvage value. greater than the market value. Which would NOT be accounted for the depletion method? Timber reserves Oil reserves Coal reserves Land Which of the following assets is NOT an intangible asset? Trademark Patent Building Goodwill

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ANSWERS ARE C D A C

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