Question
PLEASE ANSWER ASAP. THANK YOU SO MUCH The following data came from the balance sheet of Han Company as of December 31, 20X2. Dec. 31,
PLEASE ANSWER ASAP. THANK YOU SO MUCH
The following data came from the balance sheet of Han Company as of December 31, 20X2.
Dec. 31, 20X2 | Dec. 31, 20X1 | |
Machine | $3,500 | $2,950 |
Accumulated depreciation on machines | 1,400 | 1,300 |
Cash | 135 | 180 |
The following additional data were found in Han Companys financial statements for 20X2.
Sales | $10,000 |
Cash dividends paid | 65 |
New machines purchases (for cash) | 1,000 |
Net income | 300 |
Depreciation expense | 270 |
Gain on sale of old machines | 210 |
How much cash did Han Company receive from the sale of old machines during the year? (Assume that all machine sales were cash transactions.)
$590
| ||
$490 | ||
$420 | ||
$210 | ||
$360 |
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