The following beginning and ending balances were drawn from the records of Grimes Company: $\begin{array}{|l|c|c|}
\hline & {\text { Beginning }} & {\text { Ending }} \
\hline \text { Equipment } & \$ 1,400 & \$ 1,100 \
\hline \text { Accumulated Depreciation } & \$ 700 & \$ 400 \
\hline
\end{array}$ If Grimes Company sold equipment,which that had an original cost of $600 and accumulated depreciation of $300,for $250,how much did Grimes pay for new equipment?
A) $255
B) $300
C) $200
D) $550

Question

The following beginning and ending balances were drawn from the records of Grimes Company: $\begin{array}{|l|c|c|}
\hline & {\text { Beginning }} & {\text { Ending }} \
\hline \text { Equipment } & \$  1,400 & \$  1,100 \
\hline \text { Accumulated Depreciation } & \$  700 & \$ 400 \
\hline
\end{array}$ If Grimes Company sold equipment,which that had an original cost of $600 and accumulated depreciation of $300,for $250,how much did Grimes pay for new equipment?
A) $255
B) $300
C) $200
D) $550

Quizplus · Accepted Answer

The Answer of The following beginning and ending balances were drawn from the records of Grimes Company: $\begin{array}{|l|c|c|}
\hline & {\text { Beginning }} & {\text { Ending }} \
\hline \text { Equipment } & \$  1,400 & \$  1,100 \
\hline \text { Accumulated Depreciation } & \$  700 & \$ 400 \
\hline
\end{array}$ If Grimes Company sold equipment,which that had an original cost of $600 and accumulated depreciation of $300,for $250,how much did Grimes pay for new equipment?
A) $255
B) $300
C) $200
D) $550

The Following Beginning and Ending Balances Were Drawn from the Records