Question
The following data came from the balance sheet of Han Company as of December 31, 20X2. Dec. 31, 20X2 Dec. 31, 20X1 Machine $3,500 $2,950
The following data came from the balance sheet of Han Company as of December 31, 20X2.
Dec. 31, 20X2 | Dec. 31, 20X1 | |
Machine | $3,500 | $2,950 |
Accumulated depreciation on machines | 1,400 | 1,300 |
Cash | 135 | 180 |
The following additional data were found in Han Companys financial statements for 20X2.
Sales | $10,000 |
Cash dividends paid | 65 |
New machines purchases (for cash) | 1,000 |
Net income | 300 |
Depreciation expense | 270 |
Gain on sale of old machines | 210 |
How much cash did Han Company receive from the sale of old machines during the year? (Assume that all machine sales were cash transactions.)
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