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Equipment that cost $877000 and had a book value of $387000 was sold for $440000. Data from the comparative balance sheets are: 12/31/21 Equipment $5470000 $4866000 Accumulated Depreciation 1656000 1450000 Depreciation expense for 2021 was O $83000. O $749000. O $696000. O $128000. 12/31/20

Equipment that cost $877000 and had a book value of $387000 was sold for $440000. Data from the comparative balance sheets are: 12/31/21 Equipment $5470000 $4866000 Accumulated Depreciation 1656000 1450000 Depreciation expense for 2021 was O $83000. O $749000. O $696000. O $128000. 12/31/20

FINANCIAL ACCOUNTING
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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Equipment that cost $877000 and had a book value of $387000 was sold for $440000. Data from the comparative balance sheets are: Equipment Accumulated Depreciation 12/31/21 O $83000. O $749000. O $696000. O $128000. 12/31/20 $5470000 $4866000 Depreciation expense for 2021 was 1656000 1450000
Transcribed Image Text:Equipment that cost $877000 and had a book value of $387000 was sold for $440000. Data from the comparative balance sheets are: Equipment Accumulated Depreciation 12/31/21 O $83000. O $749000. O $696000. O $128000. 12/31/20 $5470000 $4866000 Depreciation expense for 2021 was 1656000 1450000
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