Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:

-Woodstuff has equipment (both factory and office) with a book value at the beginning of June of $80,000. During June, management plans to replace some of their equipment. The equipment was originally purchased for $32,000 and has accumulated depreciation of $26,000. Management intends to sell the equipment for scrap for $8,000, and use the proceeds to help fund the purchase of new equipment for $40,000.
What will be the book value of the equipment at the end of June?

Question

Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:
  
-Woodstuff has equipment (both factory and office) with a book value at the beginning of June of $80,000. During June, management plans to replace some of their equipment. The equipment was originally purchased for $32,000 and has accumulated depreciation of $26,000. Management intends to sell the equipment for scrap for $8,000, and use the proceeds to help fund the purchase of new equipment for $40,000. 
What will be the book value of the equipment at the end of June?

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The Answer of Use the following information to complete Problems below:
Woodstuff Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information:
  
-Woodstuff has equipment (both factory and office) with a book value at the beginning of June of $80,000. During June, management plans to replace some of their equipment. The equipment was originally purchased for $32,000 and has accumulated depreciation of $26,000. Management intends to sell the equipment for scrap for $8,000, and use the proceeds to help fund the purchase of new equipment for $40,000. 
What will be the book value of the equipment at the end of June?

Use the Following Information to Complete Problems Below