Equipment with a cost of $10,000 and a book value of $3,000 was sold during the year for cash of $9,000.Additional equipment was purchased during the year for cash.Use the information above to answer the following question.What was the amount of cash paid for purchases of equipment during the year?
A)$40,000
B)$43,000
C)$50,000
D)$31,000

Question

Equipment with a cost of $10,000 and a book value of $3,000 was sold during the year for cash of $9,000.Additional equipment was purchased during the year for cash.Use the information above to answer the following question.What was the amount of cash paid for purchases of equipment during the year? 
A)$40,000 
B)$43,000 
C)$50,000 
D)$31,000

Quizplus · Accepted Answer

The Answer of Equipment with a cost of $10,000 and a book value of $3,000 was sold during the year for cash of $9,000.Additional equipment was purchased during the year for cash.Use the information above to answer the following question.What was the amount of cash paid for purchases of equipment during the year? 
A)$40,000 
B)$43,000 
C)$50,000 
D)$31,000

Equipment with a Cost of $10,000 and a Book Value