Question
During 2018, Sampson, Inc. sold equipment that had cost $98,000 for $58,800. This resulted in a gain of $4,300. The balance in Accumualted Depreciation -
During 2018, Sampson, Inc. sold equipment that had cost $98,000 for $58,800. This resulted in a gain of $4,300. The balance in Accumualted Depreciation - Equipment was $325,000 on January 1, 2018, and $310,000 on December 31, 2018. No other equipment was disposed of during 2018. Depreciation expense for 2018 was
| A. | $28,500 | |
| B. | $58,500 | |
| C. | $19,300 | |
| D. | $15,000 |
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Effective Internal Auditing
Authors: Manuel E. Peña-Rodríguez
1st Edition
1736742922, 978-1736742921
