Michael's Bakery Had $236,400 in Net Fixed Assets at the Beginning

question 1

Multiple Choice

Michael's Bakery had $236,400 in net fixed assets at the beginning of the year.During the year, the company purchased $53,200 in new equipment.It also sold, at a price of $22,000, some old equipment that had a book value of $5,900.The depreciation expense for the year was $13,400.What is the net fixed asset balance at the end of the year?

• A)$260,000
• B)$283,700
• C)$276,200
• D)$270,300
• E)$289,600

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