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Equipment T-Account Analysis The following information was taken from the records of S&W Corporation: ...

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Accounting

Equipment T-Account Analysis The following information was taken from the records of S&W Corporation:

  1. Reconstruct the journal entry that recorded the sale of equipment during Year 2. Assume that asset sale occurred at the end of Year 2.
  2. How much equipment was purchased during Year 2?

image

accumulated depreciation is supposed to be 3100 not sure how to get there

\begin{tabular}{lrr} Balance Sheet & Year2 & Year1 \\ Equipment & $26,900 & $23,400 \\ Less:Accumulated Depreciation & 10,500 & 9,800 \\ Net Book Value & 16,400 & $13,600 \\ IncomeStatement & & \\ Depreciation Expense & $3,800 & $3,500 \\ Loss on Sale of Equipment & 900 & 0 \\ Statement of Cash Flows & & \\ Cash Received on Sale of Equipment & $4,300 & 0 \end{tabular}

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