A company buys a Platform for $800,000 on January 1, 2019. The e of the rig is 10 years and the expected cost to demande the platform at the end of 10 years is $200,000 (present value at 10% is $77,110) 10% is an appropriate rate for this company What joumal entry relate should be recorded on January 1, 2019, as a result of these events? OA Debit Environmental Expense for $200,000 and credit Environmental Liability for $200.000 OB Debit Environmental Loss for $200,000 and credit Environmental Liability for $200,000 OC. Debit Platform for $200,000 and credit Environmental Liability for $200,000 OD. Debit Platform for $77,110 and credit Environmental Liability for $77,110

A company buys a Platform for $800,000 on January 1, 2019. The e of the rig is 10 years and the expected cost to demande the platform at the end of 10 years is $200,000 (present value at 10% is $77,110) 10% is an appropriate rate for this company What joumal entry relate should be recorded on January 1, 2019, as a result of these events? OA Debit Environmental Expense for $200,000 and credit Environmental Liability for $200.000 OB Debit Environmental Loss for $200,000 and credit Environmental Liability for $200,000 OC. Debit Platform for $200,000 and credit Environmental Liability for $200,000 OD. Debit Platform for $77,110 and credit Environmental Liability for $77,110

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter5: Business Deductions

Section: Chapter Questions

Problem 4CE

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