The following table presents selected items from the $2014$ and $2013$ balance sheets and $2014$ income statement of Golden Enterprises, Inc.

GOLDEN ENTERPRISES, INC.

Selected Balance Sheet Data Selected Income Statement Data

$201420132014$

Property and Equipment, cost $$95,174,198$ $$93,022,443$ Depreciation Expense $$3,778,563$

Accumulated Depreciation $69,502,85465,927,389$ Gain on Sale of Property

and Equipment $22,693$

Retained Earnings $18,728,46219,273,214$ Net Income $921,829$

Golden Enterprises reported expenditures for property and equipment of $$2,380,287$ in $2014.$

a$.$ What was the original cost of the property and equipment that Golden Enterprises sold during $2014?$

$Answer

$0$

What was the accumulated depreciation on that property and equipment at the time of sale?

$Answer

$0$

b$.$ Compute the cash proceeds from the sale of property and equipment in $2014.$

$Answer

$0$

c$.$ Prepare the journal entry to describe the sale of property and equipment.

General Journal

Description Debit Credit

Cash Answer

$(1,401,017)$

Answer

$0$

Answer

Accumulated depreciation

Answer

$(3,575,465)$

Answer

$0$

Property and equipment, cost Answer

$0$

Answer

$2,151,755$

Answer

Depreciation expense

Answer

$(3,778,563)$

Answer

$0$

d$.$ Determine the cash dividends paid in $2014.$

$Answer

$0$