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 $ 245,000 $ 335,000 accumulated depreciation—equipment (126,000 ) (236,000 ) equipment, net $ 119,000 $ 99,000 buildings $ 445,000 $ 465,000 accumulated depreciation—buildings (139,000 ) (324,000 ) buildings, net $ 306,000 $ 141,000 qs 12-11 computing investing cash flows lo p3 during 2019, a building with a book value of $83,000 and an original cost of $365,000 was sold at a gain of $73,000. 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?

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.