Equipment Purchases. Lental Company's equipment account balance net of accumulated depreciation was ($ 320,000) at December 31,1998
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Equipment Purchases. Lental Company's equipment account balance net of accumulated depreciation was \(\$ 320,000\) at December 31,1998 , and was \(\$ 455,000\) on December 31, 1999. Depreciation expense on equipment for 1999 was \(\$ 60,000\). Equipment sold during 1999 originally cost \(\$ 80,000\), had a net book value of \(\$ 25,000\), and realized \(\$ 30,000\) in cash. Lental also purchased equipment in 1999.
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What did Lental spend for equipment purchases in 1999?
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Managerial Accounting
ISBN: 9780538842822
9th Edition
Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson
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