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 =