Tri- Square Company Reported Plant Assets, Net of Accumulated Depreciation

question 60

Multiple Choice

Tri- Square Company reported plant assets, net of accumulated depreciation, on January 1, 2008, at $625,300 and $713,200 on December 31, 2008. The income statement showed a depreciation expense of $47,900 and a $5,100 loss on sale of plant assets. Tri- Square Company acquired $209,000 of plant assets during the year. The proceeds from the sale of plant assets were:

• A)$68,100.
• B)$839,400.
• C)$73,200.
• D)$121,100.

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Definitions:

Planning

The process of making plans for something, often involving setting goals, deciding on actions to achieve those goals, and mobilizing resources to execute the actions.

Audiences

The collective group of people who are the intended recipients or viewers of a message, performance, or work.

Least Likely

Referring to the option or outcome with the lowest probability of occurrence.

Pay Attention

The act of focusing one’s mind and senses on a particular object or activity, giving it precedence over other stimuli.