Selected Information from Hsu Inc $\begin{array}{lrr}&2017&2016\\\hline\text { Accumulated depreciation } & \$ 32,000 & \$ 29,000 \\\text { Equipment } & 60,000 & 55,000\end{array}$

question 27

Multiple Choice

Selected information from Hsu Inc. is provided below for the years ending December 31, 2017 and 2016.
$\begin{array}{lrr}&2017&2016\\\hline\text { Accumulated depreciation } & \$ 32,000 & \$ 29,000 \\\text { Equipment } & 60,000 & 55,000\end{array}$

During 2017, depreciation expense was recorded. New equipment was acquired for cash. Old equipment which was 70% depreciated with an original cost of $26,000 was sold for a gain of $4,000. For how much was the equipment sold?

• A)$11,800
• B)$5,000
• C)$3,800
• D)$31,000

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