Favre Company reports depreciation expense of $51,000 for Year 2. Also, equipment costing $173,000 was sold for a $11,100 loss in Year 2. The following selected information is available for Favre Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31Year 2Year 1Equipment$665,000? $838,000? Accumulated Depreciation-Equipment 472,000? 555,000?
A. $51,000.
B. $71,900.
C. $27,900.
D. $39,000.
E. $50,100.
Answer: C
You might also like to view...
Image advertising is used by global companies to present themselves as famous corporate citizens in foreign countries
Indicate whether the statement is true or false
Devon Company uses activity-based costing to determine the costs of its two products: A and B. The total estimated cost of the purchasing function activity pool is $14,000. The cost driver for that pool equals number of purchase orders. A total of 400 purchase orders are expected to be issued for the budgeted production of Product A and 300 purchase orders are expected to be issued for the budgeted production of Product B. The activity rate for the purchasing cost pool is:
In a given market, key technology no longer has patent protection, experience is not an advantage, and there is a growing need to compete on price. What stage of its life cycle is the market in?
A. maturity B. growth C. decline D. introduction
Social media are not effective intercultural communication tools because they only reinforce cultural differences
Indicate whether the statement is true or false