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GOLDEN ENTERPRISES, INC. Selected Balance Sheet Data Selected Income Statement Data 2014 2013 2014 Accumulated depreciation. . . 69,502,854 65,927,389 Gain on sale of property
GOLDEN ENTERPRISES, INC. Selected Balance Sheet Data Selected Income Statement Data 2014 2013 2014 Accumulated depreciation. . . 69,502,854 65,927,389 Gain on sale of property 22,693 921,829 Golden Enterprises reported expenditures for property and equipment of $2,380 287 in 2014. a. What was the original cost of the property and equipment that Golden Enterprises sold dur- ing 2014? What was the accumulated depreciation on that property and equipment at the b. c. d. time of sale? Compute the cash proceeds from the sale of property and equipment in 2014. Prepare the journal entry to describe the sale of property and equipment Determine the cash dividends paid in 2014
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