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ivann1987 [24]
3 years ago
14

The plant assets section of the comparative balance sheets of Anders Company is reported below.

Business
1 answer:
kobusy [5.1K]3 years ago
8 0

Answer:

Cash Anders received from the sales of equipment was $37,000

Explanation:

The equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000

In Anders Company

The carrying amount of the equipment = book value of equipment = $40,000

The equipment was sold at a loss of $3,000. Therefore:

The carrying amount of the equipment - Sales price (Cash Anders received from the sales) = $3,000

Cash Anders received from the sales = The carrying amount of the equipment - $3,000 = $40,000 - $3,000 = $37,000

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2 years ago
Which of the below statements is inaccurate?
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3 years ago
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