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-Buildinge buildings, net $215,000 (114.000) $ 101,000 $415,000 (121,000) $ 294,000 1 Cash received from sale of equipment 2 Depreciation expense 2020 $ 305,000 (224,999) $ 81,000 435,000 (306,000) 129,000 QS 12-10 (Algo) Computing investing cash flows LO P3 During 2021, equipment with a book value of $47,000 and an original cost of $245,000 was soid at a loss of $4,400. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation exponse was recorded on equipment during 20217 3. What was the cost of new equipment purchased by Anders during 2021?
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-Buildinge buildings, net $215,000 (114.000) $ 101,000 $415,000 (121,000) $ 294,000 1 Cash received from sale of equipment 2 Depreciation expense 2020 $ 305,000 (224,999) $ 81,000 435,000 (306,000) 129,000 QS 12-10 (Algo) Computing investing cash flows LO P3 During 2021, equipment with a book value of $47,000 and an original cost of $245,000 was soid at a loss of $4,400. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation exponse was recorded on equipment during 20217 3. What was the cost of new equipment purchased by Anders during 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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
Duildings
Accumulated depreciation-buildings
Buildings, net
1 Cash received from the sale of equipment
2 Depreciation expense
3 Purchase of equipment
$215,000
(114,000)
$ 101,000
Q
$415,000
(121,000)
$ 294,000
2020
$ 305,000
(224,000)
QS 12-10 (Algo) Computing investing cash flows LO P3
During 2021, equipment with a book value of $47,000 and an original cost of $245,000 was sold at a loss of $4,400
1. How much cash did Anders receive from the sale of equipment?
2. How much depreciation exponse was recorded on equipment during 20217
3.
What was the cost of new equipment purchased by Anders during 2021?
$81,000
435,000
(206,000)
129,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52e6e8a9-18e4-418b-93ff-16bea9b0c942%2F8acd57fc-2b31-44d5-850b-f0017df4bab7%2F5au1q9b_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Duildings
Accumulated depreciation-buildings
Buildings, net
1 Cash received from the sale of equipment
2 Depreciation expense
3 Purchase of equipment
$215,000
(114,000)
$ 101,000
Q
$415,000
(121,000)
$ 294,000
2020
$ 305,000
(224,000)
QS 12-10 (Algo) Computing investing cash flows LO P3
During 2021, equipment with a book value of $47,000 and an original cost of $245,000 was sold at a loss of $4,400
1. How much cash did Anders receive from the sale of equipment?
2. How much depreciation exponse was recorded on equipment during 20217
3.
What was the cost of new equipment purchased by Anders during 2021?
$81,000
435,000
(206,000)
129,000
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