Question
Colleen's Cookies sold a piece of equipment on January 1, 2018.The company originally purchased the equipment 20 years ago for $200,000.Accumulated depreciation on the date
Colleen's Cookies sold a piece of equipment on January 1, 2018.The company originally purchased the equipment 20 years ago for $200,000.Accumulated depreciation on the date of sale was $120,000.The sale resulted in a gain of $5,000.
What was the sales price of the equipment?
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Accounting Principles Part 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition Volume 1
1118306791, 978-1118306796
