Question
Abraxis Company sold some used equipment during the current year. The accumulated depreciation on the equipment when sold was $90,000 and the original cost of
Abraxis Company sold some used equipment during the current year. The accumulated depreciation on the equipment when sold was $90,000 and the original cost of the equipment was $150,000. A gain of $5,000 was recognized on the sale. The selling price of the equipment must have been:
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Financial Accounting For Management
Authors: Paresh Shah
2nd Edition
0198077033, 978-0198077039
