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The plant assets section of the comparative balance sheets of Anders Company is reported below. Plant assets ANDERS COMPANY Comparative Year-End Balance Sheets 2021
The plant assets section of the comparative balance sheets of Anders Company is reported below. Plant assets ANDERS COMPANY Comparative Year-End Balance Sheets 2021 $ 180,000 (100,000) 2020 $ 270,000 (210,000) $ 60,000 Equipment Accumulated depreciation-Equipment Equipment, net $ 80,000 Buildings $ 380,000 Accumulated depreciation-Buildings Buildings, net (100,000) $ 400,000 (285,000) $ 280,000 $ 115,000 During 2021, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021?
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