Accounting Sleuth: Reconstructing Entries

Meubles Fischer SA had the following balances for its property, plant, and equipment accounts (in thousands of euros):

	September 30 Year 3	September 30 Year 4
Property, plant and equipment at cost	2,000	2,400
Accumulated depreciation	(700)	(780)
Property, plant and equipment, net	1,300	1,620

During fiscal Year 4, Meubles Fischer acquired 200 thousand in property by signing a mortgage, plus another 600 thousand in equipment for cash. The company also received 200 in cash from the sale of used equipment, and its income statement reveals a 40 thousand gain from this transaction.

a. What was the original cost of the used equipment that Meubles Fischer SA sold during fiscal Year 4? Answer

thousand b. How much depreciation had been accumulated on the used equipment at the time it was sold? Answer

thousand c. How much depreciation expense did Meubles Fischer SA recognize in its fiscal Year 4 income statement? Answer

thousand