Relevant account balances for Martinez Corporation are:

-Selected information from Cooke Inc. is provided below for the years ending December 31, 2009 and 2008. During 2009, depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 70% depreciated with an original cost of $26,000 was sold for a gain of $4,000. What is the cost of the new equipment acquired?

Question

Relevant account balances for Martinez Corporation are:
 
-Selected information from Cooke Inc. is provided below for the years ending December 31, 2009 and 2008.  During 2009, depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 70% depreciated with an original cost of $26,000 was sold for a gain of $4,000. What is the cost of the new equipment acquired?

Quizplus · Accepted Answer

The Answer of Relevant account balances for Martinez Corporation are:
 
-Selected information from Cooke Inc. is provided below for the years ending December 31, 2009 and 2008.  During 2009, depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 70% depreciated with an original cost of $26,000 was sold for a gain of $4,000. What is the cost of the new equipment acquired?

Relevant Account Balances for Martinez Corporation Are