Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Anders Company Comparative Balance Sheets 2015 2014 Plant assets Equipment $ 180,000 $ 270,000 Accum. Depr.Equipment ( 100,000 ) ( 210,000 ) Equipment, net $
Anders Company | |||||||||
Comparative Balance Sheets | |||||||||
2015 | 2014 | ||||||||
Plant assets | |||||||||
Equipment | $ | 180,000 | $ | 270,000 | |||||
Accum. Depr.Equipment | ( | 100,000 | ) | ( | 210,000 | ) | |||
Equipment, net | $ | 80,000 | $ | 60,000 | |||||
Buildings | $ | 380,000 | $ | 400,000 | |||||
Accum. Depr.Buildings | ( | 100,000 | ) | ( | 285,000 | ) | |||
Buildings, net | $ | 280,000 | $ | 115,000 | |||||
During 2015, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building?
|
The plant asset section of the comparative balance sheets of Anders company is reported below.
I don't get # 2 & 3. Can anyone help me?
#1 is 130000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started