Nova Flex Corp. had net fixed assets of $20,500 at the start of the year and $21,800 at the end. The company recorded $4,200 in depreciation and spent $9,000 on purchasing new fixed assets. How much in fixed assets did Nova Flex Corp. sell during the year?

Nova Flex Corp. had net fixed assets of $20,500 at the start of the year and $21,800 at the end. The company recorded $4,200 in depreciation and spent $9,000 on purchasing new fixed assets. How much in fixed assets did Nova Flex Corp. sell during the year?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

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Question

Nova Flex Corp. had net fixed assets of $20,500 at the
start of the year and $21,800 at the end. The company
recorded $4,200 in depreciation and spent $9,000 on
purchasing new fixed assets.
How much in fixed assets did Nova Flex Corp. sell
during the year?

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