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Sleuth: ounting Meubles Fischer thousands of euros) Reconstructing Entries ier SA had the following balances for its property, plant, and equipment accoun LO quipment accounts
Sleuth: ounting Meubles Fischer thousands of euros) Reconstructing Entries ier SA had the following balances for its property, plant, and equipment accoun LO quipment accounts (in September September 30, 2015 30,2016 1,200 (390) E 810 Property, plant, and Accumulat ....1,000 (350) During fiscal year 2016, Meubles Fischer acquired 100 thousand in property by signing a mort- gage, plus another 300 thousand in equipment for cash. The company also received 100 thou- sand in cash from the sale of used equipment, and its income statement reveals a 20 thousand gain from this transaction. a. What was the original cost of the used equipment that Meubles Fischer SA sold during fiscal year 2016? How much depreciation had been accumulated on the used equipment at the time it was sold? How much depreciation expense did Meubles Fischer SA recognize in its fiscal year 2016 b. c. income statement
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