2) Phosphoric Company reported capital assets, net of accumulated depreciation, on January 1, 2017, at $645,000 and $732,500 on December 31, 2017. The income statement showed depreciation of $48,300 and a $5,600 loss on sale of capital assets. Phosphoric Company acquired $213,000 of capital assets during the year. The proceeds from the sale of capital assets were: 21102 A) $125,500 B) $89,900 C) $71,600 D) $77,200 ZhuangXinyi 134739 FU ZhuangXinyi 134739

2) Phosphoric Company reported capital assets, net of accumulated depreciation, on January 1, 2017, at $645,000 and $732,500 on December 31, 2017. The income statement showed depreciation of $48,300 and a $5,600 loss on sale of capital assets. Phosphoric Company acquired $213,000 of capital assets during the year. The proceeds from the sale of capital assets were: 21102 A) $125,500 B) $89,900 C) $71,600 D) $77,200 ZhuangXinyi 134739 FU ZhuangXinyi 134739

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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