START YOUR... Drew LSAT Coach P 7 Tips to He This window shows your responses and what was marked correct and incorrect from your previous attempt. QS 12-8 Computing cash from asset sales LO P3 The following information is from Ellerby Company's comparative balance sheets. 31 warded At December 31 Furniture Accumulated depreciation-furniture Current Year $132,000 (88,700) Prior Year $ 184,500 (110,700) 2:3102 Scored The current-year income statement reports depreciation expense on furniture of $18,000. During the year, furniture costing $52,500 was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Fumiture 119,000 Beg, bal Sale of assets Cash End bel 56.000 45.000 109,000 Accumulated Depreciation Beg bal Current your depreciation Sale of assets 20.000 9,000 37,600 End. bal 17.000 ation.com/ext/map/index.html?_con=con&external_browser=0&launchuri=http%253A%25 70252Fnewco Cengage Cengage (54) MONEY MON. (54) 11 WAYS TO... (54) START YOUR... W Drew Ls This window shows your responses and what was marked correct and incorrect from your The current-year income statement reports depreciation expense on furniture of $18,000. During the yea was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Furniture 119,000 ved Beg bal Sale of assets Cash End. bal. 55,000 45,000 109,000 TO Accumulated Depreciation Begbal Current year depreciation Sale of assets 9,000 37,600 29,600 End.bal 17.000 Cost Accumulated depreciation Book value (Cash received) 55,000 29.000 25,400 2 $ 3 5 6 8 9 W E R T Y C P S D F G H J L X C V B N M START YOUR... Drew LSAT Coach P 7 Tips to He This window shows your responses and what was marked correct and incorrect from your previous attempt. QS 12-8 Computing cash from asset sales LO P3 The following information is from Ellerby Company's comparative balance sheets. 31 warded At December 31 Furniture Accumulated depreciation-furniture Current Year $132,000 (88,700) Prior Year $ 184,500 (110,700) 2:3102 Scored The current-year income statement reports depreciation expense on furniture of $18,000. During the year, furniture costing $52,500 was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Fumiture 119,000 Beg, bal Sale of assets Cash End bel 56.000 45.000 109,000 Accumulated Depreciation Beg bal Current your depreciation Sale of assets 20.000 9,000 37,600 End. bal 17.000 ation.com/ext/map/index.html?_con=con&external_browser=0&launchuri=http%253A%25 70252Fnewco Cengage Cengage (54) MONEY MON. (54) 11 WAYS TO... (54) START YOUR... W Drew Ls This window shows your responses and what was marked correct and incorrect from your The current-year income statement reports depreciation expense on furniture of $18,000. During the yea was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Furniture 119,000 ved Beg bal Sale of assets Cash End. bal. 55,000 45,000 109,000 TO Accumulated Depreciation Begbal Current year depreciation Sale of assets 9,000 37,600 29,600 End.bal 17.000 Cost Accumulated depreciation Book value (Cash received) 55,000 29.000 25,400 2 $ 3 5 6 8 9 W E R T Y C P S D F G H J L X C V B N M