Required Information Use The Following Information For The Quick Study Below Algo The Following Information Applie 1 (43.9 KiB) Viewed 41 times
! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $285,000 (142,000) $375,000 (252,000) Accumulated depreciation-Equipment Equipment, net $ 143,000 Buildings $ 485,000 (163,000) $ 123,000 $ 505,000 (348,000) Accumulated depreciation-Buildings Buildings, net $ 322,000 $ 157,000 QS 12-10 (Algo) Computing investing cash flows LO P3 During 2021, equipment with a book value of $61,000 and an original cost of $210,000 was sold at a loss of $7,200. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipment
QS 12-11 (Algo) Computing investing cash flows LO P3 During 2021, a building with a book value of $91,000 and an original cost of $405,000 was sold at a gain of $81,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building
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