Halbur Company reported the following for its recent year of operation: No new equipment was purchased during the year. What was the selling price of the equipment?
A)$3,900.
B)$1,000.
C)$900.
D)$600.

Question

Halbur Company reported the following for its recent year of operation:  No new equipment was purchased during the year. What was the selling price of the equipment?
A)$3,900. 
B)$1,000. 
C)$900. 
D)$600.

Quizplus · Accepted Answer

The book value of the equipment at the end of the year was $900, which means that the equipment has been fully depreciated and has no value left for the company. Therefore, if the equipment was sold, the selling price would also be $900.

Halbur Company Reported the Following for Its Recent Year of Operation