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Meubles Fischer SA had the following balances for its property, plant and equipment accounts (in thousands of euros): September 30, 2015 September 30, 2016 Property,
Meubles Fischer SA had the following balances for its property, plant and equipment accounts (in thousands of euros):
September 30, 2015 | September 30, 2016 | |
---|---|---|
Property, plant and equipment at cost | 1,000 | 1,200 |
Accumulated depreciation | (350) | (390) |
Property, plant and equipment, net | 650 | 810 |
During fiscal year 2016, Meubles Fischer acquired 110 thousand in property by signing a mortgage, plus another 310 thousand in equipment for cash. The company also received 110 in cash from the sale of used equipment, and its income statement reveals a 30 thousand gain from this transaction.
a. | What was the original cost of the used equipment that Meubles Fischer SA sold during fiscal year 2016? | |
Answer thousand | ||
b. | How much depreciation had been accumulated on the used equipment at the time it was sold? | |
Answer thousand | ||
c. | How much depreciation expense did Meubles Fischer SA recognize in its fiscal year 2016 income statement? | |
Answer thousand |
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