Total assets on the statement of financial position at December 31, 2011 are 52.216,000. Accumulated depreciation on the equipment sold was $112,000. 19. When the equipment was sold the Buildings and Equipment account received a credit of A) $160,000. B) $112,000 C) $208,000. D) $96,000 Page 7 20. The book value of the buildings and equipment at December 31, 2011 was A) $1,424,000. B) $1,016,000. C) $1,176,000. D) $1,040,000 21. The accounts payable at December 31, 2011 were A) $296,000. B) $64.000 C) $88,000. D) $216,000 22. The balance in the Retained Eamings account at December 31, 2011 was A) $1,000,000 B) $360,000 C) $880,000 D) $760,000 23. Share capital stock (plus any share premium) at December 31, 2011 was A) $1,240,000. B) $800,000 C) $920,000 D) $520,000 Total assets on the statement of financial position at December 31, 2011 are 52.216,000. Accumulated depreciation on the equipment sold was $112,000. 19. When the equipment was sold the Buildings and Equipment account received a credit of A) $160,000. B) $112,000 C) $208,000. D) $96,000 Page 7 20. The book value of the buildings and equipment at December 31, 2011 was A) $1,424,000. B) $1,016,000. C) $1,176,000. D) $1,040,000 21. The accounts payable at December 31, 2011 were A) $296,000. B) $64.000 C) $88,000. D) $216,000 22. The balance in the Retained Eamings account at December 31, 2011 was A) $1,000,000 B) $360,000 C) $880,000 D) $760,000 23. Share capital stock (plus any share premium) at December 31, 2011 was A) $1,240,000. B) $800,000 C) $920,000 D) $520,000