Question
On January 1, 2017, plant assets, net are $180,000. On December 31, 2017, plant assets, net are $290,000. Depreciation expense for the year is $20,000.
On January 1, 2017, plant assets, net are $180,000. On December 31, 2017, plant assets, net are $290,000. Depreciation expense for the year is $20,000. During the year, plant assets were acquired for $150,000 with cash. There is a Gain on sale of plant asset of $9000. What are the cash proceeds from the sale of the plant asset?
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine, Christopher D. Burnley
8th Canadian Edition
111959457X, 978-1119594574
