The following selected information is from Manning Companys comparative balance sheets. The income statement reports depreciation expense

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The following selected information is from Manning Company€™s comparative balance sheets.

The income statement reports depreciation expense for the year of $36,000. Also, furniture costing $105,000 was sold for its book value. Compute the cash received from the sale offurniture.

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Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

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Question Posted: May 17, 2012 04:45 AM

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The following selected information is from Manning Companys comparative balance sheets. The income statement reports depreciation expense

Question:

At December 31 2009 2008 Accumulated depreclation-Furnlture ( (174400) (221.400)

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Computation of cash inflow from sale of furniture Cost of furniture sold given 105000 ...View the full answer

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