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ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 210,000 $ 300,000 Accumulated depreciationEquipment (112,000) (222,000) Equipment, net $ 98,000 $ 78,000
ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 210,000 $ 300,000 Accumulated depreciationEquipment (112,000) (222,000) Equipment, net $ 98,000 $ 78,000 Buildings $ 410,000 $ 430,000 Accumulated depreciationBuildings (118,000) (303,000) Buildings, net $ 292,000 $ 127,000
QS 16-11 (Algo) Computing investing cash flows LO P3
During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000.
- How much cash did Anders receive from the sale of the building?
- How much depreciation expense was recorded on buildings during 2021?
- What was the cost of buildings purchased by Anders during 2021?
Please provide steps or a formula to get the correct answers
| ANDERS COMPANY | ||
| Comparative Year-End Balance Sheets | ||
| 2021 | 2020 | |
|---|---|---|
| Plant assets | ||
| Equipment | $ 210,000 | $ 300,000 |
| Accumulated depreciationEquipment | (112,000) | (222,000) |
| Equipment, net | $ 98,000 | $ 78,000 |
| Buildings | $ 410,000 | $ 430,000 |
| Accumulated depreciationBuildings | (118,000) | (303,000) |
| Buildings, net | $ 292,000 | $ 127,000 |
QS 16-11 (Algo) Computing investing cash flows LO P3
During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000.
- How much cash did Anders receive from the sale of the building?
- How much depreciation expense was recorded on buildings during 2021?
- What was the cost of buildings purchased by Anders during 2021?
Please provide steps or a formula to get the correct answers
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College Accounting A Practical Approach 1-15
Authors: Jeffrey Slater
4th Edition
013142050X, 978-0131420502
