Question
12/31/2014 12/31/2013 Property, Plant and Equipment $375,000 $240,000 Less Accumulated Depreciation $105,000 $112,000 The income statement reflected a loss on the sale of equipment of
| 12/31/2014 | 12/31/2013 | |
| Property, Plant and Equipment | $375,000 | $240,000 |
| Less Accumulated Depreciation | $105,000 | $112,000 |
| The income statement reflected a loss on the sale of equipment of | $10,000 | |
| Equipment with a cost of $100,000 was sold in 2013. This equipment had accumulated depreciation of | $20500 |
What is the amount of depreciation expense for 2014?
The answer is 13500
I see that they use 20500 - (112000-10500)
Can someone explain their relations? Why would they subtract 7000 from 20500.
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Accounting Accounting Made Simple For Beginners
Authors: Robert Briggs
1st Edition
1761032739, 978-1761032738
