Question
ANDERS COMPANY Comparative Balance Sheets Plant assets 2016 2015 Equipment $245,000 $335,000 Accum. Depr.Equipment (126,000) (236,000) Equipment, net = $119,000 = $99,000 Buildings $445,000 $465,000
ANDERS COMPANY
Comparative Balance Sheets
Plant assets 2016 2015
Equipment $245,000 $335,000
Accum. Depr.Equipment (126,000) (236,000)
Equipment, net = $119,000 = $99,000
Buildings $445,000 $465,000
Accum. Depr.Buildings (139,000) (324,000)
Buildings, net =$306,000 =$141,000
Refer to the balance sheet data above from Anders Company. During 2016, equipment with a book value of $53,000 and an original cost of $275,000 was sold at a loss of $5,600.
1. How much cash did Anders receive from the sale of equipment?
Cash Recieved from the sale of equipment =
2. How much depreciation expense was recorded on equipment during 2016?
Depreciation Expense =
3. What was the cost of new equipment purchased by Anders during 2016?
Purchase of equipment =
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