Solution-Determining the original cost of the asset

Determining the original cost of the asset

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Reference no: EM13973132

A company sold equipment for $55,000. Total accumulated depreciation at the time of the sale was $22,500 and a loss of $12,500 was recognized on the sale. What was the original cost of the asset?

$42,500
$32,500
$90,000
$67,500
$77,500

Reference no: EM13973132

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Determining the original cost of the asset

Reference no: EM13973132

Reference no: EM13973132

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