Search here for Tutorials

If the Data is different in your question, please send your questions to homeworksolutionsnow@gmail.com. The questions will be answered at the same price.

Equipment that cost $300,000 and had a book value of $156,000 was sold for

Equipment that cost $300,000 and had a book value of $156,000 was sold for $180,000. Data from the comparative balance sheets are:
12/31/08 12/31/07
Equipment                         $2,160,000  $1,950,000
Accumulated Depreciation 660,000       570,000

How do you calculate the Equipment purchased during 2008? And what are some common mistakes in answering this type of question?

A) $510,000.
B) $300,000.
C) $210,000.
D) $90,000.

No comments: