On April 30, 2016, Ramirez & Sons sold some used equipment for $112,000. The accumulated...
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Accounting
On April 30, 2016, Ramirez & Sons sold some used equipment for $112,000. The accumulated depreciation on the equipment when sold was $128,000. Ramirez & Sons properly recorded a $44,000 gain on the sale. The original cost of the equipment when it was purchased several years ago by Ramirez & Sons must have been:
A.
$100,000
B.
$196,000
C.
$156,000
D.
$ 56,000
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