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The Greenplanet Laboratories, Inc, equipment account, net of accumulated depreciation, increased by $35,000 during 1999. During the year, Greenplanet sold equipment for $24,000 realizing a
The Greenplanet Laboratories, Inc, equipment account, net of accumulated depreciation, increased by $35,000 during 1999. During the year, Greenplanet sold equipment for $24,000 realizing a gain of $7,000. Depreciation expense for the year was $9,000. All other changes in the equipment account came from cash purchases of equipment. Cash payments for equipment totaled: $27,000. $61,000. $35,000. $59,000. None of the above. Dr. Cash 24000 Dr. Acc. Dep. 9000 Cr. Equipment 2 6000 =Purchases - 370 colo
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