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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 Year 2 Year 1
Equipment $600,000 $750,000 Accumulated Depreciation-Equipment 428,000 500,000

Sagot :

The amounts that a company's assets are depreciated for a single period.

Monetary records may be discovered on the agency's internet page in Investor members of the family in which Securities and alternate fees and other employer reviews are regularly stored. The SEC has economic filings electronically to be had beginning in 1993/1994 unfastened on their website.

The reports incorporate data, along with overall performance highlights, a letter from the CEO, financial information, and goals and desires for destiny years. there are numerous users of annual reports, which include shareholders and capacity traders, personnel, and customers.

An annual report for a publicly traded enterprise typically carries highlights of the organization's sports and performance for the duration of the preceding yr, destiny desires and objectives, a letter to shareholders from the CEO or corporation president, an auditor's record, and distinctive monetary statements.

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