Question

A company's beginning Equipment account is $100,000. It purchased $10,000 of new equipment and sold $4,000 of its equipment during the period. The company's ending Equipment balance equals a _____ balance.

Answer 1

The company's ending Equipment balance equals a $106,000 balance.

Ending Equipment balance

Using this formula

Ending Equipment balance= Beginning Equipment balance+New equipment- Ending Equipment balance

Where:

Beginning Equipment balance=$100,000

New equipment=$10,000

Ending Equipment balance=$4,000

Let plug in the formula

Ending Equipment balance=$100,000+$10,000-$4,000

Ending Equipment balance=$106,000

Inconclusion the company's ending Equipment balance equals a $106,000 balance.

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