Question
Firebrand Inc. purchased Class 8 furniture for $4,000 in 2015.In 2017, this furniture was sold for proceeds of $1,000; other furniture remained in the pool.
Firebrand Inc. purchased Class 8 furniture for $4,000 in 2015.In 2017, this furniture was sold for proceeds of $1,000; other furniture remained in the pool. The UCC balance in Class 8 was $10,300 at the beginning of 2017 and no Class 8 assets were purchased during the year.What is the UCC of this class at the end of 2017?
A.$7,440
B.$8,240
C.$9,300
D.$1,860
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
1119403995, 9781119403999
