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During calendar 2017, Laertes Corp.sold equipment for $70,000.The equipment had cost $100,000 and had a book value of $52,000 at the time of sale.Data from their comparative statements of financial position are:
-Equipment purchased during 2017 was
A)$170,000.
B)$100,000.
C)$70,000.
D)$30,000.

Question

Use the following information for questions.
During calendar 2017, Laertes Corp.sold equipment for $70,000.The equipment had cost $100,000 and had a book value of $52,000 at the time of sale.Data from their comparative statements of financial position are: 
-Equipment purchased during 2017 was
A)$170,000. 
B)$100,000. 
C)$70,000. 
D)$30,000.

Quizplus · Accepted Answer

Equipment purchased during 2017 was $170,000.

Use the Following Information for Questions