Question - Equipment that cost $200,000 and had a book value of $104,000 was sold for $120,000. Data from the comparative balance sheets are:
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12/31/17
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12/31/18
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Equipment
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$1,440,000
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$1,300,000
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Accumulated Depreciation
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$440,000
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$380,000
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What are the amounts that will affect the cash flow statement?
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Depreciation Expense
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Equipment Expense
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a.
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$172,000
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$400,000
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b.
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$156,000
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$340,000
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c.
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$36,000
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$140,000
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d.
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$24,000
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$60,000
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