Question
On January 1, 2023, plant assets, net are $180,000. On December 31, 2023, plant assets, net are $290,000. Depreciation expense for the year is $18,000.
On January 1, 2023, plant assets, net are $180,000. On December 31, 2023, plant assets, net are $290,000. Depreciation expense for the year is $18,000. During the year, plant assets were acquired for $147,000 with cash. There is a Gain on sale of plant asset of $11,000. What are the cash proceeds from the sale of the plant asset?
O $0
O $19.000
O $30.000
O $8000
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Managerial Accounting
Authors: McGraw Hill Education
14th Edition
1121182518, 978-1121182516
