Equipment, December 31, 2021 $91,000 Equipment, December 31, 2022 100,800 Accumulated Depreciation, December 31, 2021 54,600 Accumulated Depreciation, December 31, 2022 42,000 During 2022, the company sold equipment with a cost of $42,000 and accumulated depreciation of $35,000. A gain of $4,200 was recognized on the sale of the equipment. What was depreciation expense for 2022? Select one: a. $22,400 b. $2,800 c. $29,400 d. $12,600 X e. $42,000
Equipment, December 31, 2021 $91,000 Equipment, December 31, 2022 100,800 Accumulated Depreciation, December 31, 2021 54,600 Accumulated Depreciation, December 31, 2022 42,000 During 2022, the company sold equipment with a cost of $42,000 and accumulated depreciation of $35,000. A gain of $4,200 was recognized on the sale of the equipment. What was depreciation expense for 2022? Select one: a. $22,400 b. $2,800 c. $29,400 d. $12,600 X e. $42,000
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 32CE
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