Halbur Company Reported the Following for Its Recent Year of Operation

question 12

Multiple Choice

Halbur Company reported the following for its recent year of operation: $\begin{array}{lr}\text { From the income statement: } \\\text { Depreciation expense } & \$ 1,000 \\\text { Loss on sale of equipment } & 3,000\\\text { From the comparative balance sheet: } & \\\text { Beginning balance, equipment } & \$ 12,500 \\\text { Ending balance, equipment } & 8,000 \\\text { Beginning balance, accumulated depreciation } & 2,000 \\\text { Ending balance, accumulated depreciation } & 2,400\end{array}$ 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.

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Definitions:

Local Variable

A variable declared within a function or block, having its scope limited to that block or function, making it inaccessible from the outside.

Instance Variable

A variable that, when defined within a class, ensures every object instantiated from that class possesses its own distinct copy.

Method Definition

A method definition specifies the code to be executed when the method is called, including the method's name, return type, and parameters.

New Operator

A keyword used in programming to create instances of classes by allocating memory for the objects.