A company sells an office desk. You are provided with the following information: • The original cost of the desk was $3,000. . The desk is sold for $1,000. The value of the desk is $1,500. The opening UCC balance in Class 8 is $18,000 • A new desk is purchased for $2,000. What amount is recorded as a disposition in Class 8? ● ● O a. $3,000 O b. $1,000 O c. $1,500 O d. $18,000 Oe. $2,000

A company sells an office desk. You are provided with the following information: • The original cost of the desk was $3,000. . The desk is sold for $1,000. The value of the desk is $1,500. The opening UCC balance in Class 8 is $18,000 • A new desk is purchased for $2,000. What amount is recorded as a disposition in Class 8? ● ● O a. $3,000 O b. $1,000 O c. $1,500 O d. $18,000 Oe. $2,000

Name: A company sells an office desk. You are provided with the following i
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Description: A company sells an office desk. You are provided with the following information:The original cost of the desk was $3,000.The desk is sold for $1,000...The value of the desk is $1,500.The opening UCC balance in Class 8 is $18,000A new desk is purchas

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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