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  3. ford company reports depreciation expense of $40,0

Ford Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000 was...

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Accounting

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Ford Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000 was sold for its book value in Year 2. There were no other equipment purchases or sales during the year. The following selected information is available for Ford Company from its comparative balance sheet. Compute the cash received from the sale of the equipment At December 31 Equipment Accumulated Depreciation-Equipment Year 2 Year 1 $600,000 $750,000 428,000 500,000 Multiple Choice $32,000 $68,000 $38,000 $40,000 Multiple Choice $32.000 $68,000 $38,000 $40,000 $36.000

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