contestada

The plant assets section of the comparative balance sheets of Anders Company is reported below.
ANDERS COMPANY
Comparative Balance Sheets
2017 2016
Plant assets
Equipment $ 180,000 $ 270,000
Accum. Depr.—Equipment (100,000 ) (210,000 )
Equipment, net $ 80,000 $ 60,000
Buildings $ 380,000 $ 400,000
Accum. Depr.—Buildings (100,000 ) (285,000 )
Buildings, net $ 280,000 $ 115,000
During 2017, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000.
1. How much cash did Anders receive from the sale of equipment?

Respuesta :

phamdiep1810

Answer:

Cash Anders received from the sales of equipment was $37,000

Explanation:

The equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000

In Anders Company

The carrying amount of the equipment = book value of equipment = $40,000

The equipment was sold at a loss of $3,000. Therefore:

The carrying amount of the equipment - Sales price (Cash Anders received from the sales) = $3,000

Cash Anders received from the sales = The carrying amount of the equipment - $3,000 = $40,000 - $3,000 = $37,000

Otras preguntas