At the beginning of the year the firm purchased new

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Reference no: EM13573266

1.The beginning balance of PP&E is $50,000 in 2014 and the beginning balance is shown as $80,000 in 2015 .

2. The firm sold old PP&E at received cash of $25,000 and the accumulated depreciation was associated to the sold of PP&E was $5,000.

3. At the beginning of the year, the firm purchased new euipment. The total cost related related to the new purchase wa $70,000 and 40,000 was paid in issuing note payable.

Question 1. What would be the amount of loss of the sold old PP&E?

Question 2. What would be the adjusted balance in 2015? Or it would remain $80,000?

Reference no: EM13573266

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