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Required information Skip to question [ The following information applies to the questions displayed below. ] The following information was drawn from the year -
Required information
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The following information applies to the questions displayed below.
The following information was drawn from the yearend balance sheets of Mass Trading Company.
Account Title Year Year
Investment securities $ $
Equipment
Buildings
Land
Additional information regarding transactions occurring during Year :
Investment securities that had cost $ were sold. The Year income statement contained a loss on the sale of investment securities of $
Equipment with a cost of $ was purchased.
The income statement showed a gain on the sale of equipment of $ On the date of sale, accumulated depreciation on the equipment sold amounted to $
A building that had originally cost $ was demolished.
Land that had cost $ was sold for $
c Determine the cost of the equipment that was sold during Year
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