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. 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. 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. 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