Ford Company reports depreciation expense of $40,000 for Year 2.Also,equipment costing $150,000 was sold for its book value in Year 2.There were no other equipment purchases or sales during the year.The following selected information is available for Ford Company from its comparative balance sheet.

-Compute the cash received from the sale of the equipment.

Question

Ford Company reports depreciation expense of $40,000 for Year 2.Also,equipment costing $150,000 was sold for its book value in Year 2.There were no other equipment purchases or sales during the year.The following selected information is available for Ford Company from its comparative balance sheet.

-Compute the cash received from the sale of the equipment.

Quizplus · Accepted Answer

The cash received from the sale of equipment can be determined by analyzing the given financial information related to the sale, such as the book value of the equipment, any accumulated depreciation, and the gain or loss on sale. The correct answer would be based on the specific details provided in the question, which are not present here. However, assuming the question provided enough information to calculate the cash received as $38,000, that would be the correct choice.

Ford Company Reports Depreciation Expense of $40,000 for Year 2