The following selected information is from Ellerby Companys comparative balance sheets. The income statement reports depreciation expense
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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 offurniture.
Transcribed Image Text:
At December 31 Furniture.e.... Accumulated depreciation- Furniture(88,700) (110,700) 2013 $132,000 $184.500 2012
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Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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