Question 58

Remaining Time: 21 minutes, 25 seconds. Question Completion Status: O C. $60,000 should be recorded in the Land account. OD.572,000 should be recorded in the Land account. QUESTION 58 Clear Creek Corporation bought a machine on January 1, 2020. The machine cost $175,000 and had an estimated salvage value of $25,000. The useful life of the machine is 5 years. The depreciable cost of the machine is O A. $175,000 OB. $30,000 OC. $35,000 O D. $150.000 QUESTION 59 A company set aside $200,000 for possible losses from lawsuits over a defective product in a contingency fund. The lawsuits are not expected to be settled for 6 years. Assuming an 8% interest rate, what will be the balance of the contingency fund at the end of the 6 years? AS1467 184 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Type here to search