The following selected information is from Ellerby Company?s comparative balance sheets. The income statement reports depreciation expense
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The following selected information is from Ellerby Company?s comparative balance sheets.
The income statement reports depreciation expense for the year of $18,000. Also, furniture costing $52,500 was sold for its book value. Compute the cash received from the sale of furniture.
Transcribed Image Text:
At December 31 Furniture.... Accumulated depreciation-Fumiture.. 2018 2017 $ 184,500 (110,700) $132,000 (88,700)
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Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
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