/ M chapter 12hormework MChapter 12 homework t × ×1MInbox1403-rdono719e ×.MInbox

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/ M chapter 12hormework MChapter 12 homework t × ×1MInbox1403-rdono719e ×.MInbox (403)-dono7190x; ezto.mheducation.com/hm.tpx : Apps n Facebook M Gmail Yahoo Mal O Log In to Canvas M Bus Fundamentals MFin Smartsins Business s The plant assets section of the comparative balance sheets of Anders Company is reported below 2015 2014 Plant assets Equipment Accum. Depr-Equipment $ 180,000 270,000 100,000) (210,000) Equipment, net $ 80,000 $ 60,000 Buildings Accum Depr.-Buildings 380,000 $400,000 100,000) (285,000) Buildings, net $ 280,000 115,000 During 2015, a building with a book value of $70.000 and an original cost of $300,000 was sold at a gain of $60,000 1. How much cash did Anders rec eive from the sale of the building? received from the sale of

Explanation / Answer

Cash received from sales of Building Book value of Building 70000 Add Gain on sales 60000 Cash recived from sales of Building 130000 Depreciation Expesne On Buliding Accu depre Building 2015 100000 Add Accu depre depreciation on asset sold =300000-70000 230000 Less Accu depre Building 2014 285000 Depreciation Expense 45000 Purchase Of Building Building Gross 380000 Add Cost of Building Sold 300000 Less Building Gross 2014 400000 Building Purchased 280000

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