During calendar 2023, Crane Corp. sold equipment for $70000. The equipment had cost $104000 and had...

 

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During calendar 2023, Crane Corp. sold equipment for $70000. The equipment had cost $104000 and had a book value of $52500 at the time of sale. Data from their comparative statements of financial position are: Equipment Accumulated Depreciation Dec. 31/23 Dec. 31/22 $722000 $649000 210500 What is the depreciation expense for 2023? 192000 During calendar 2023, Crane Corp. sold equipment for $70000. The equipment had cost $104000 and had a book value of $52500 at the time of sale. Data from their comparative statements of financial position are: Equipment Accumulated Depreciation Dec. 31/23 Dec. 31/22 $722000 $649000 210500 What is the depreciation expense for 2023? 192000 During calendar 2023, Crane Corp. sold equipment for $70000. The equipment had cost $104000 and had a book value of $52500 at the time of sale. Data from their comparative statements of financial position are: Equipment Accumulated Depreciation Dec. 31/23 Dec. 31/22 $722000 $649000 210500 What is the depreciation expense for 2023? 192000

Answer rating: 100% (QA)

To calculate the depreciation expense for 2023 we need to use the accumulated depreciation amounts from the comparative statements of financial positi... View the full answer