Refer to the balance sheet data above from Anders Company. During 2015, a building with a book

Question:

Refer to the data above from Anders Company. During 2015, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000.
a. How much cash did Anders receive from the sale of the building?
b. How much depreciation expense was recorded on buildings during 2015?
c. What was the cost of buildings purchased by Anders during 2015?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...