EquipmentAccumulated depreciation-Equipment$ 180,000(100, ееө)$ 80,000Equipment, netBuildingsAccumulated depreciation-Buildings$ 270,000(210, ее0)$ 60,000$ 400,000(285,000)$ 115,000$ 380,000(100, ө0ө)$ 280,000Buildings, netDuring 2019, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000.1. How much cash did Anders receive from the sale of the building?2. How much depreciation expense was recorded on buildings during 2019?3. What was the cost of buildings purchased by Anders during 2019?ces1.Cash received from the sale of building2.Depreciation expense3.Purchase of building< Prevof 14Next >.. Required information[The following information applies to the questions displayed below.]The plant assets section of the comparative balance sheets of Anders Company is reported below.ANDERS COMPANYComparative Balance Sheets20192018Plant assetsEquipmentAccumulated depreciation-Equipment$ 180,000(100,e00)$ 80,000$ 380,000(100,000)$ 280,000$ 270,000(210,000)$ 60,000$ 400,000(285,000)$ 115,000Equipment, netBuildingsAccumulated depreciation-BuildingsBuildings, netDuring 2019, a building with a booklue of $70,000 and an original cost of $300,000 was sold at a gain of $60,000.1. How much cash did Anders receive from the sale of the building?2 How much denreciation evnense was recorded on buildinas during 20192...< Prevof 14Next >Chat

Accumulated Depreciation on sold Building = Original cost - Book value = $300,000 - $70,000 =…

The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Balance Sheets 2019 2018 Plant assets Equipment Accumulated depreciation-Equipment $ 180,000 |(100,000) $ 80,000 $ 380,000 (100, еee) $ 280,e00 $ 270,000 (210,e00) $ 60,000 $ 400,e00 (285,000) $ 115,000 Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net During 2019, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2 How much denreciation evnense was recorded on huildingc during 2019?

The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Balance Sheets 2019 2018 Plant assets Equipment Accumulated depreciation-Equipment $ 180,000 |(100,000) $ 80,000 $ 380,000 (100, еee) $ 280,e00 $ 270,000 (210,e00) $ 60,000 $ 400,e00 (285,000) $ 115,000 Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net During 2019, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2 How much denreciation evnense was recorded on huildingc during 2019?

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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