Halbur Company reported the following for its recent year of operation: No new equipment was purchased during the year.What was the selling price of the equipment?

A) $3,900.
B) $1,000.
C) $900.
D) $600.

Question

Halbur Company reported the following for its recent year of operation:

No new equipment was purchased during the year.What was the selling price of the equipment?

A) $3,900.
B) $1,000.
C) $900.
D) $600.

?????? ????? · Accepted Answer

Final Answer : C, Explanation :  The equipment was purchased for $1,800 and had accumulated depreciation of $900 at the end of the year. This means that the book value of the equipment was $900 ($1,800 - $900). The company sold the equipment for $1,800, which is $900 more than the book value ($1,800 - $900 = $900). Therefore, the selling price of the equipment was $900.

Halbur Company reported the following for its recent year of operation: No new equipment was purchased during the year.What was the selling price of the equipment?

A) $3,900.
B) $1,000.
C) $900.
D) $600.

Definitions

Learning Objectives

Learning Objectives

Related questions

Halbur Company reported the following for its recent year of operation: No new equipment was purchased during the year.What was the selling price of the equipment?A) $3,900.B) $1,000.C) $900.D) $600.

Definitions

Learning Objectives

Learning Objectives

Related questions

Halbur Company reported the following for its recent year of operation: No new equipment was purchased during the year.What was the selling price of the equipment?

A) $3,900.
B) $1,000.
C) $900.
D) $600.