During 2014, Node Co. sold equipment that had cost $294,000 for $176,400. This resulted in a gain of $12,900. The balance in Accumulated Depreciation-Equipment was $975,000 on January 1, 2014, and $930,000 on December 31. No other equipment was disposed of during 2014. Depreciation expense for 2014 was

Question

Quizplus · Accepted Answer

The Answer of During 2014, Node Co. sold equipment that had cost $294,000 for $176,400. This resulted in a gain of $12,900. The balance in Accumulated Depreciation-Equipment was $975,000 on January 1, 2014, and $930,000 on December 31. No other equipment was disposed of during 2014. Depreciation expense for 2014 was