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For the equipment that was sold determine its original cost

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Reference no: EM13599026

During the period, Teen's Trends sold some excess equipment at a loss. The following information was collected from the company's accounting records:
From the income statement

  • Depreciation expense $ 700
  • Loss on sale of equipment 4,000
  • From the balance sheet
  • Beginning equipment 12,500
  • Ending equipment 7,000
  • Beginning accumulated depreciation 2,000
  • Ending accumulated depreciation 2,200

No new equipment was bought during the period.

Required:
For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale. (Omit the "$" sign in your response.)

  • Equipment sold $
  • Accumulated depreciation $
  • Cash received from sale $

Reference no: EM13599026

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