Bookmarks ESCI 111 Quiz 10F connect. Principles of Accounting - ACC 2013 ACC2013

Question

Bookmarks ESCI 111 Quiz 10F connect. Principles of Accounting - ACC 2013 ACC2013-04 9 Quiz Question 1 (of 5) value: 1.00 points MC Qu.79 Urban Outsiders has a building.. Urban Outsiders has a building that originally cost $410,000. The company expects to be able to sell the fecility for $244.000 at the end of its useful life. The balance of the related Accumulated Depreciation account is $107,000. The residual value of the facility is: O $137.000 O $166.000. O $244,00o. O $303,000 References Multiple Choice MC Qu.79 Urban Outsiders has a building

Explanation / Answer

1)

Residual value is the value expected to be realized after selling the asset at the end of its useful life

As we can find, this value is $244,000 in the question

So, option C is the correct option

2)

At the end of a depreciable asset’s useful life

Book value = Cost – accumulated depreciation

= residual value

So, option d is the correct option

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