The balance sheet as of December 31, 2022 shows the account of Equipment with a balance of
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Question:
The balance sheet as of December 31, 2022 shows the account of Equipment with a balance of $170,000.
On December 31, 2021 that same account had a balance of $150,000.
The balance of the accumulated depreciation account was $51,000 on December 31, 2022 and $45,000 on December 31, 2021.
One team that had cost $30,000 and had a book value of $12,000 was sold with a profit of $4,000.
Calculate
1. The money received from the sale of equipment during 2022
2. The money paid to buy equipment during 2022
3. The money received for depreciation
Related Book For
Accounting Texts and Cases
ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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