Question
Furniture costing $66,000 is sold at its book value in 2021. Acquisitions of furniture total $53,100 cash, on which no depreciation is necessary because it
Furniture costing
$66,000 is sold at its book value in 2021. Acquisitions of furniture total
$53,100 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture.\ \\\\table[[Furniture],[Beginning balance,93,500,],[Sale of assets,53,100,],[Purchase of assets,,66,000],[Ending balance,80,600,],[Accumulated Depreciation],[Beginning balance'],[,,],[,,],[,,3],[Ending balance,0,],[Cost],[Accumulated depreciation],[Book value (Cash received),,
$ 
Furniture costing $66,000 is sold at its book value in 2021 . Acquisitions of furniture total $53,100 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture
Furniture costing
$66,000is sold at its book value in 2021. Acquisitions of furniture total
$53,100cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture.\ \\\\table[[Furniture],[Beginning balance,93,500,],[Sale of assets,53,100,],[Purchase of assets,,66,000],[Ending balance,80,600,],[Accumulated Depreciation],[Beginning balance'],[,,],[,,],[,,3],[Ending balance,0,],[Cost],[Accumulated depreciation],[Book value (Cash received),,
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-0078025365
