Question
Stone Corporation reported the following information: 20172016 Buildings (net)$950,000425,000 Cash received from sale of building250,000 Gain on sale of building35,000 Cost of building purchased during
Stone Corporation reported the following information:
20172016
Buildings (net)$950,000425,000
Cash received from sale of building250,000
Gain on sale of building35,000
Cost of building purchased during 2017870,000
What amount of amortization was recorded on the building sold in 2017?
A) $130,000
B) $95,000
C) $125,000
D) $160,000
Answer:A, why is it A? show work
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
