Assume HYPERLINK "http://www.sambazon.com/"Sambazon.com sold an acai processing machine for $172,000 cash.If accumulated depreciation on the sale date was $58,311 and a gain of $6,721 was recognized on the sale,what was the original cost of the asset?
A)$223,590
B)$216,869
C)$165,279
D)$65,032
E)$113,689

Question

Quizplus · Accepted Answer

Received $172,000 - book value = $6,721 gain
Book value = $172,000 - $6,721 = $165,279
Cost = $165,279 + $58,311 = $223,590

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