Submi 2 The following information is available for Jeffreys

Submi 2 The following information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from At December 3 Equipment points 492,000 580,900 00 25 42 Multiple Choice 555 600 5%400 Prey 39 of 40 iii.. Next > 20

Solution

Answer c. $32,400 Equipment To balance b/f          878,000 By Cash (Bal. Fig.)            32,400 By Accumulated Depreciation          144,000 By Loss on Sale of Equip.            11,600 By Balance c/f          690,000          878,000          878,000 Accumulated Depreciation - Equipment To Equipment (Bal. Fig.)          144,000 By Balance b/f          580,000 By Depereciation Expenses            56,000 To balance C/f          492,000          636,000          636,000