Question

Burns Company’s 2011 and 2010 balance sheets presented the following data for equipment:
During 2011, equipment costing $35,000 with accumulated depreciation of $31,275 was sold for cash, producing a $4,400 gain.

Required:
1. Calculate the amount of depreciation expense for 2011.
2. Calculate the amount of cash spent for equipment during 2011.
3. Calculate the amount that should be included as a cash inflow from the disposal of equipment.


$1.99
Sales0
Views30
Comments0
  • CreatedSeptember 22, 2015
  • Files Included
Post your question
5000