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Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is
Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. Plant assets Equipment, net Buildings ANDERS COMPANY Comparative Year-End Balance Sheets 2021 $ 215,000 (114,000) $ 101,000 2020 $ 305,000 (224,000) Equipment Accumulated depreciation-Equipment $ 415,000 Accumulated depreciation-Buildings Buildings, net (121,000) $ 294,000 $ 129,000 $ 81,000 $ 435,000 (306,000) During 2021, a building with a book value of $77,000 and an original cost of $335,000 was sold at a gain of $67.000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building
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