Question
A company had the following information in its long-term assets section on the balance sheet Equipment Accumulated Depreciation Book Value December 31, 2020 $490,000
A company had the following information in its long-term assets section on the balance sheet Equipment Accumulated Depreciation Book Value December 31, 2020 $490,000 75,000 December 31, 2019 $410.000 (35.000) $415.000 $375,000 During the year, the company sold equipment that had onginally cost $22,000 and had accumulated depreciation of $10.000 The company who recognized a gain on the sale of the equipment at $4,000 Based on this information, determine the amount of decenciation cost for the year that would appear in the operating section of the statement of cash Bow
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