Answer:
$44,000
Explanation:
According to the scenario, computation of the given data are as follow:-
Depreciation on Sold Equipment
Particular Amount($)
Year 1-Accumulated depreciation 550,000
Year 2-Depreciation 50,000
Year 2 –Total accumulated depreciation 600,000
Less-Year 2-Reported depreciation 468,000
Depreciation on sold equipment 132,000
Received Cash from the Sale of Equipment
Particular Amount($)
Cost of equipment 170,000
Less-Depreciation on sold equipment 132,000
Written down value of equipment 38,000
Add-Profit on sale of equipment 6,000
Sale price of equipment 44,000
