Business, 17.02.2020 18:31 chrisraptorofficial
Mercury Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000 was sold for its book value in Year 2. The following selected information is available for Mercury Company from its comparative balance sheet.
At December 31 Year 2 Year 1
Equipment $610,000 $750,000
Accumulated Depreciation-Equipment 428,000 500,000
Required:
1. Compute the cash received from the sale of the equipment.
A $32,000.
B $40,000.
C $36,000.
D $68,000.
E $38,000.
Answers: 2
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Mercury Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000...
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