The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Balance Sheets 2019 2018 Plant assets Equipment Accumulated depreciation-Equipment $ 180,000 |(100,000) $ 80,000 $ 380,000 (100, еee) $ 280,e00 $ 270,000 (210,e00) $ 60,000 $ 400,e00 (285,000) $ 115,000 Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net During 2019, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2 How much denreciation evnense was recorded on huildingc during 2019?
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- Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below) The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 2020 $ 220,000 (116,000) $ 104,000 $ 420,000 (124,000) $ 296,000 QS 12-11 (Algo) Computing investing cash flows LO P3 1. Cash received from the sale of building. 2 Depreciation expense 3 Purchase of building 2019 $ 310,000 (226,000) $ 84,000 $ 440,000 (309,000) $ 131,000 During 2020, a building with a book value of $78,000 and an original cost of $340,000 was sold at a gain of $68,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2020? 3. What was the cost of buildings purchased by Anders…Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipment $ 180,000 (100,000) $ 80,000 $ $ 380,000 (100,000) $ 280,000 During 2021, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 2020 37,000 $ 270,000 (210,000) $ 60,000 $ 400,000 (285,000) $ 115,000help me
- Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building $ 180,000 (100,000) $ 80,000 $ 130,000 $ 380,000 (100,000) $ 280,000 2020 $ 270,000 (210,000) $ 60,000 During 2021, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? $ 400,000 (285,000) $ 115,000Required information (The following information applies to the questions displayed below.) The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings $ 180,000 (100,000) $ 80,000 $ 380, 000 (100,000) $ 280,000 $ 270,000 (210,000) $ 60, 000 $ 400,000 (285,000) $ 115,000 Buildings, net During 2021, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipmentRequired information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net $ 245,000 (125,000) $ 119,000 1 Cash received from the sale of building 2. Depreciation expense 3 Purchase of building $ 445,000 (139,000) $306,000 2020 $335,000 (236,000) $ 99,000 $ 465,000 (324,000) $ 141,000 During 2021, a building with a book value of $83,000 and an original cost of $365,000 was sold at a gain of $73,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021?
- Required information Skip to question [The following information applies to the questions displayed below.]The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 200,000 $ 290,000 Accumulated depreciation—Equipment (108,000) (218,000) Equipment, net $ 92,000 $ 72,000 Buildings $ 400,000 $ 420,000 Accumulated depreciation—Buildings (112,000) (297,000) Buildings, net $ 288,000 $ 123,000 During 2021, equipment with a book value of $44,000 and an original cost of $230,000 was sold at a loss of $3,800. 1. How much cash did Anders receive from the sale of equipment?2. How much depreciation expense was recorded on equipment during 2021?3. What was the cost of new equipment purchased by Anders during 2021?[The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 290,000 $ 380,000 Accumulated depreciation—Equipment (144,000) (254,000) Equipment, net $ 146,000 $ 126,000 Buildings $ 490,000 $ 510,000 Accumulated depreciation—Buildings (166,000) (351,000) Buildings, net $ 324,000 $ 159,000 QS 12-11 (Algo) Computing investing cash flows LO P3 During 2021, a building with a book value of $92,000 and an original cost of $410,000 was sold at a gain of $82,000. How much cash did Anders receive from the sale of the building? How much depreciation expense was recorded on buildings during 2021? What was the cost of buildings purchased by Anders during 2021?The plant assets section of the comparative balance sheets of Anders Company is reported below. 1. 2. 3. ANDERS COMPANY Comparative Balance Sheets Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 2018 Cash received from the sale of building Depreciation expense Purchase of building $ 295,000 (146,000) $ 149,000 $ 495,000 2017 $ 385,000 (256,000) $ 129,000 $ 515,000 (354,000) (169,000) $ 326,000 $ 161,000 During 2018, a building with a book value of $93,000 and an original cost of $415,000 was sold at a gain of $83,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2018? 3. What was the cost of buildings purchased by Anders during 2018?
- At December 31, 2022, Flounder Company reported the following as plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 $27,650,000 13,740,000 During 2023, the following selected cash transactions occurred. July 1 Dec. 31 48,010,000 4,600,000 $3,590,000 13,910,000 43,410,000 $60,910,000 Purchased land for $2,170,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2019. The equipment was sold for $648,000. Sold land purchased on June 1, 2013 for $1,410,000. The land cost $402,000. Purchased equipment for $2,370,000. Retired equipment that cost $503,000 when purchased on December 31, 2013.Presented below is information related to plant assets, natural resources, and intangibles at year end on December 31, 2021, for Pronghorn Company: Buildings $1,255,000 Goodwill 700,000 Patents 500,000 Coal Mine 510,000 Accumulated Depreciation—Bldg. 646,000 Accumulated Depletion 294,000 1 .Prepare a partial balance sheet for Pronghorn Company that shows how the above listed items would be presented. (List Property, Plant and Equipment in order of Buildings and Coal Mine.)PART II: BALANCE SHEET: 5 Points Presented below is information related to current assets, plant assets, natural resources, and intangibles at year end on December 31, 2023, for Hardy Company: $2,180,000 Buildings Goodwill Accounts Receivable Patents Cash Accumulated Depreciation-Bldg. 625,000 300,000 680,000 400,000 650,000 Instructions Prepare a partial classified balance sheet, using appropriate headings and classifications, for Hardy Company that shows how the above listed items should be presented.