The 2021 footnote disclosures for W.B. Jones Heating & Air shows that it owns PP&E with accumulated depreciation of $2,000 and $1,700 for the years ended Dec 31, 2020 and Dec 31, 2021. The company's 2021 statement of cash flows shows a positive adjustment of $500 for depreciation expense to reconcile net income to CFO. During 2021, the company sold some of its equipment. What was the amount of accumulated depreciation on the equipment that was sold? (No impairments were recorded during 2021). 800

The 2021 footnote disclosures for W.B. Jones Heating & Air shows that it owns PP&E with accumulated depreciation of $2,000 and $1,700 for the years ended Dec 31, 2020 and Dec 31, 2021. The company's 2021 statement of cash flows shows a positive adjustment of $500 for depreciation expense to reconcile net income to CFO. During 2021, the company sold some of its equipment. What was the amount of accumulated depreciation on the equipment that was sold? (No impairments were recorded during 2021). 800

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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