Question: L 0 4 - 5 E 4 - 3 6 . Accounting Sleuth: Reconstructing Entries Meubles Fischer SA had the following balances for its property,
L E Accounting Sleuth: Reconstructing Entries
Meubles Fischer SA had the following balances for its property, plant, and equipment accounts in thousands of euros:Sept. Year Sept. Year
During fiscal Year Meubles Fischer acquired thousand in property by signing a mortgage, plus another thousand in equipment for cash. The company also received thousand in cash from the sale of used equipment, and its income statement reveals a thousand gain from this transaction.
a What was the original cost of the used equipment that Meubles Fischer SA sold during fiscal Year
b How much depreciation had been accumulated on the used equipment at the time it was sold?
c How much depreciation expense did Meubles Fischer SA recognize in its fiscal Year income statement?
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