Sunny Corp. began the year with net fixed assets of $25,600 and ended the year with $27,200 in net fixed assets. The company recorded depreciation of $4,000 during the year and purchased new fixed assets worth $10,500. How much in fixed assets did the company sell during the year?

Sunny Corp. began the year with net fixed assets of $25,600 and ended the year with $27,200 in net fixed assets. The company recorded depreciation of $4,000 during the year and purchased new fixed assets worth $10,500. How much in fixed assets did the company 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

answer?

Sunny Corp. began the year with net fixed assets
of $25,600 and ended the year with $27,200 in net
fixed assets. The company recorded depreciation of
$4,000 during the year and purchased new fixed
assets worth $10,500.
How much in fixed assets did the company sell
during the year?

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