! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net $ 210,000 (112,000) $ 98,000 $ 410,000 (118,000) $ 292,000 QS 12-11 (Algo) Computing investing cash flows LO P3 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building 2020 $ 300,000 (222,000) $ 78,000 $ 430,000 (303,000) $ 127,000 During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021?
! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net $ 210,000 (112,000) $ 98,000 $ 410,000 (118,000) $ 292,000 QS 12-11 (Algo) Computing investing cash flows LO P3 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building 2020 $ 300,000 (222,000) $ 78,000 $ 430,000 (303,000) $ 127,000 During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Oo.79.
Subject :- Account
![Required information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
The plant assets section of the comparative balance sheets of Anders Company is reported below.
ANDERS COMPANY
Comparative Year-End Balance Sheets
2021
Plant assets
Equipment
Accumulated depreciation-Equipment
Equipment, net
Buildings
Accumulated depreciation-Buildings
Buildings, net
$ 210,000
(112,000)
$ 98,000
$ 410,000
(118,000)
$ 292,000
QS 12-11 (Algo) Computing investing cash flows LO P3
1. Cash received from the sale of building
2. Depreciation expense
3. Purchase of building
2020
$ 300,000
(222,000)
$ 78,000
$ 430,000
(303,000)
$ 127,000
During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000.
1. How much cash did Anders receive from the sale of the building?
2. How much depreciation expense was recorded on buildings during 2021?
3. What was the cost of buildings purchased by Anders during 2021?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a79f5fd-2bdd-484b-9c0d-a83d48b55247%2F9169048f-3a17-4885-8878-c43126b0a13f%2Ffd6ozw_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
The plant assets section of the comparative balance sheets of Anders Company is reported below.
ANDERS COMPANY
Comparative Year-End Balance Sheets
2021
Plant assets
Equipment
Accumulated depreciation-Equipment
Equipment, net
Buildings
Accumulated depreciation-Buildings
Buildings, net
$ 210,000
(112,000)
$ 98,000
$ 410,000
(118,000)
$ 292,000
QS 12-11 (Algo) Computing investing cash flows LO P3
1. Cash received from the sale of building
2. Depreciation expense
3. Purchase of building
2020
$ 300,000
(222,000)
$ 78,000
$ 430,000
(303,000)
$ 127,000
During 2021, a building with a book value of $76,000 and an original cost of $330,000 was sold at a gain of $66,000.
1. How much cash did Anders receive from the sale of the building?
2. How much depreciation expense was recorded on buildings during 2021?
3. What was the cost of buildings purchased by Anders during 2021?
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