During 2021, equipment with a book value of $44,000 and an original cost of $230,000 was...

 

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During 2021, equipment with a book value of $44,000 and an original cost of $230,000 was sold at a loss of $3,800 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2 Depreciation expense 3. Purchase of equipment ANDERS COMPANY Comparative Year-End Balance Sheets Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 2021 $ 200,000 (108,000) $ 92,000 $ 400,000 (112,000) $ 288,000 2020 $ 290,000 (218,000) $ 72,000 $ 420,000 (297,000) $ 123,000 During 2021, equipment with a book value of $44,000 and an original cost of $230,000 was sold at a loss of $3,800 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2 Depreciation expense 3. Purchase of equipment ANDERS COMPANY Comparative Year-End Balance Sheets Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 2021 $ 200,000 (108,000) $ 92,000 $ 400,000 (112,000) $ 288,000 2020 $ 290,000 (218,000) $ 72,000 $ 420,000 (297,000) $ 123,000

Answer rating: 100% (QA)

1 Cash received from the sale of equipment The cash received from the sale of equipment can be ca... View the full answer