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Beginning Furniture and Fixtures = $3,650. Ending Furniture and Fixtures = $5,600. Beginning Accumulated Depreciation = $450. Ending Accumulated Depreciation = $1,120. Furniture and Fixtures
Beginning Furniture and Fixtures = $3,650. Ending Furniture and Fixtures = $5,600. Beginning Accumulated Depreciation = $450. Ending Accumulated Depreciation = $1,120. Furniture and Fixtures with an original cost of $1,000 and accumulated depreciation of $300 were sold for $900 this year.
1.What are furniture and fixture purchases this year?
A. $1,950.
B. $2,950.
C. $3,950.
D. $4,950.
E. None of the above.
2. What is accrual basis depreciation expense?
A. $670.
B. $970.
C. $1,270.
D. $1,570.
E. None of the above.
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