31-Dec-2020 31-Dec-2019 $ $ Equipment 177,000 100,000 Accumulated Depreciation $76,000 $60,000 A equipment with a cost of $20,000 was disposed during the year with accumulated depreciation of $15000 and gain on disposal of $3,000. No other disposal or retirement of Equipment during the year ended 31 December 2020. The total depreiciation expense for year ended 31 December 2020 is $ Additions of Equipment (Purchase of Equipment) for the year ended 31 December 2020 is $ Sales Proceeds on disposal of equipment is $
31-Dec-2020 31-Dec-2019 $ $ Equipment 177,000 100,000 Accumulated Depreciation $76,000 $60,000 A equipment with a cost of $20,000 was disposed during the year with accumulated depreciation of $15000 and gain on disposal of $3,000. No other disposal or retirement of Equipment during the year ended 31 December 2020. The total depreiciation expense for year ended 31 December 2020 is $ Additions of Equipment (Purchase of Equipment) for the year ended 31 December 2020 is $ Sales Proceeds on disposal of equipment is $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
31-Dec-2020 | 31-Dec-2019 | ||||||||
$ | $ | ||||||||
Equipment | 177,000 | 100,000 | |||||||
$76,000 | $60,000 | ||||||||
A equipment with a cost of $20,000 was disposed during the year with accumulated depreciation of $15000 and gain on disposal of $3,000. | |||||||||
No other disposal or retirement of Equipment during the year ended 31 December 2020. | |||||||||
The total depreiciation expense for year ended 31 December 2020 is $ | |||||||||
Additions of Equipment (Purchase of Equipment) for the year ended 31 December 2020 is $
Sales Proceeds on disposal of equipment is $ |
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