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Category > Accounting Posted 24 May 2017 My Price 4.00

Carey Company's equipment account increased $400,000 during the period

 

Carey Company's equipment account increased $400,000 during the period; the related accumulated depreciation increased $30,000. New equipment was purchased at a cost of $700,000 and used equipment was sold at a loss of $20,000. Depreciation expense was $100,000. Proceeds from the sale of the used equipment were a. $210,000. b. $250,000. c. $280,000. d. $320,000.
 
 

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Alpha Geek
(8)
Status NEW Posted 24 May 2017 11:05 AM My Price 4.00

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file 1495624622-Answer.docx preview (95 words )
C-----------are-----------y C-----------omp-----------any-----------'s -----------equ-----------ipm-----------ent----------- ac-----------cou-----------nt -----------inc-----------rea-----------sed----------- $4-----------00,-----------000----------- du-----------rin-----------g t-----------he -----------per-----------iod-----------; t-----------he -----------rel-----------ate-----------d a-----------ccu-----------mul-----------ate-----------d d-----------epr-----------eci-----------ati-----------on -----------inc-----------rea-----------sed----------- $3-----------0,0-----------00.----------- Ne-----------w e-----------qui-----------pme-----------nt -----------was----------- pu-----------rch-----------ase-----------d a-----------t a----------- co-----------st -----------of -----------$70-----------0,0-----------00 -----------and----------- us-----------ed -----------equ-----------ipm-----------ent----------- wa-----------s s-----------old----------- at----------- a -----------los-----------s o-----------f $-----------20,-----------000-----------. D-----------epr-----------eci-----------ati-----------on -----------exp-----------ens-----------e w-----------as -----------$10-----------0,0-----------00.----------- Pr-----------oce-----------eds----------- fr-----------om -----------the----------- sa-----------le -----------of -----------the----------- us-----------ed -----------equ-----------ipm-----------ent----------- we-----------re -----------a. -----------$21-----------0,0-----------00.----------- b.----------- $2-----------50,-----------000-----------. c-----------. $-----------280-----------,00-----------0. -----------d. -----------$32-----------0,0-----------00.----------- J-----------an -----------09 -----------201-----------2 1-----------0:5-----------6 A-----------M -----------Ans-----------wer----------- E-----------qui-----------pme-----------nt -----------New----------- eq-----------uip-----------men-----------t p-----------urc-----------has-----------e $-----------7,0-----------0,0-----------00
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