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please help and thanks!! The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2015 2014 Furniture $ 160,500 $ 222,500
please help and thanks!!
The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2015 2014 Furniture $ 160,500 $ 222,500 Accumulated depreciation furniture (98,200) (120,200) The income statement reports depreciation expense for the year of $27,500. Also, furniture costing $62.000 was sold for its book value on December 31, 2015. Complete the below table to calculate the cash received from the sale of furniture. Furniture Accumulated Depreciation End, bal. End. bal. Cost Accumulated depreciation Book value (Cash received)Step by Step Solution
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