Schrute Farms has $$53,000$ in fixed assets at the beginning of the year during the year the company purchased $$11,400$ in new equipment. It also sold out a price of $$2000$ from old equipment with the book value of $$1700.$ The depreciation expense for the year was $$8600.$

What is the Net fixed asset balance at the end of the year? 

Answer rating: 100% (QA)

Net Fixed Asset Balance Beginning Fixed Assets New Equipment Purchases Equipment Sales Dep... View the full answer