During calendar 2020, Marcellus Inc. sold equipment for $ 168,000. The equipment had cost $ 252,000 and had a book value of $ 144,000 at the time of sale. Accumulated Depreciation-Equipment was $ 688,000 at Dec 31, 2019 and $ 736,000 at Dec 31, 2020. Therefore, Depreciation Expense (Equipment) for 2020 was

Question

Quizplus · Accepted Answer

The accumulated depreciation increased by $48,000 ($736,000 - $688,000) during 2020. Additionally, the equipment sold had accumulated depreciation of $108,000 ($252,000 - $144,000). Therefore, the total depreciation expense for 2020 is $48,000 + $108,000 = $156,000.

During Calendar 2020, Marcellus Inc