Chapter 16 - Homework 4 QS 16-7 Computing cash from asset sales LO P3 142...
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Accounting
Chapter 16 - Homework 4 QS 16-7 Computing cash from asset sales LO P3 142 ponts The following selected information is from Ellerby Company s comparative balance sheets Furniture Aeeunulated depreciat ion-Furniture 193,700)11,700 147,00O 204, 500 Book The income statement reports depreciation expense for the year of $23,000 Aso, furniture coting $57500 was sold for its book value on December 31, 2017 CEv Complete the general ledger accounts to calculate the cash received from the sale of furniture Phint Beg bal 204 50 End bal 147 000 Accumulated Deprecia Beg bal 115,700 End bal Cost Accumulated depreciation Book value (Cash roceived)
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