Green Company reports depreciation expense of $49,000 for Year 2. Also, equipment costing $167,000 was sold for a $5900 gain in Year 2. The following selected information is available for Green Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31Year 2Year 1Equipment$655,000? $822,000? Accumulated Depreciation-Equipment 464,000? 545,000?
A. $42,900.
B. $86,000.
C. $37,000.
D. $31,100.
E. $49,000.
Answer: A
Business
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