Question
4 5.55 points QS 16-8 Computing cash from asset sales LO P3 The following information is from Ellerby Company's comparative balance sheets. At December 31
4 5.55 points QS 16-8 Computing cash from asset sales LO P3 The following information is from Ellerby Company's comparative balance sheets. At December 31 Skipped Furniture Accumulated depreciation-Furniture Current Year $141,000 (91,700) Prior Year $196,500 (113,700) eBook Hint Print References The current year income statement reports depreciation expense on furniture of $21,000. During the year, furniture costing $55,500 was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Beg. bal. Furniture End. bal. Accumulated Depreciation Beg. bal. End. bal. 0 0 4 Complete the general ledger accounts to calculate cash received from the sale of furniture. 5.55 points Beg. bal. Skipped End. bal. Furniture eBook Accumulated Depreciation Hint Beg. bal. Print References End. bal. Cost Accumulated depreciation Book value (Cash received) 0 S 0
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