A Company Sold Office Furniture Costing $15,800 with Accumulated Depreciation

question 17

Multiple Choice

A company sold office furniture costing $15,800 with accumulated depreciation of $13,000 for $1,500 cash.The entry to record the sale would include:

• A) an increase in accumulated depreciation for $15,800.
• B) a loss for $1300.
• C) a total decrease in office furniture for $2,800.
• D) a decrease in cash for $1,300.

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Definitions:

Empire Building

A strategy where a company's executives expand their organization's size and operations, often to increase power and control, regardless of shareholder benefit.

Corporate Jets

Private aircraft owned or leased by corporations for the purpose of transporting executives and employees, often to support business operations more efficiently.

Real Assets

Physical or tangible assets such as real estate, commodities, or natural resources that have intrinsic value.

Production Equipment

Machinery and tools that are used in the manufacturing process to create products and goods.