C | ezto.mheducation.com/hm tpx The following selected ieformation is from Eller

Question

C | ezto.mheducation.com/hm tpx The following selected ieformation is from Ellerby Company's comparative balance sheets 5 150,000$ 208,500 (94 700) (16,700 The income statement reports depreciation experse for the year of $24 000 Also, funiture costing $58,500 was sold for its book value on December 31, 2015 Complote the below table to calculate the cash recerved from the sale of furniture Beg ba Beg bal End bal End. bal Cost Book value (Cash receved) $ References eBook &Resources; Worksheet Dfticully 1 Easy Type here to search

Explanation / Answer

Prepare following T account :

Furniture account :

Accumlated depreciation :

Accounts amount account amount To balance b/d 208500 by Cash 58500 by balance c/d 150000 208500 208500

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