During 2018, Trained Hospital received $90,000 in third-party reimbursements for depreciation.These reimbursements were restricted as follows:For replacement of fully depreciated equipment . . . . . . . . . . . . . . $25,000For additions to property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000What amount of these reimbursements should Trained include in revenues for the year ended December 31, 2018? a. $0 b. $25,000 c. $65,000 d. $90,000
During 2018, Trained Hospital received $90,000 in third-party reimbursements for depreciation.These reimbursements were restricted as follows:For replacement of fully depreciated equipment . . . . . . . . . . . . . . $25,000For additions to property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000What amount of these reimbursements should Trained include in revenues for the year ended December 31, 2018? a. $0 b. $25,000 c. $65,000 d. $90,000
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 66P: At the end of 2020, Magenta Manufacturing Company discovered that construction cost had been...
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During 2018, Trained Hospital received $90,000 in third-party reimbursements for depreciation.
These reimbursements were restricted as follows:
For replacement of fully depreciated equipment . . . . . . . . . . . . . . $25,000
For additions to property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000
What amount of these reimbursements should Trained include in revenues for the year ended December 31, 2018?
a. $0
b. $25,000
c. $65,000
d. $90,000
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