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The Capitals Company has provided you the following information pertaining to the year ending December 31,2015:
• Equipment costing $25,000 was acquired in exchange for common stock.
• Equipment with an original cost of $57,500 and a book value of $5,000 was scrapped.
• Equipment was purchased in exchange for cash.
• Equipment with a book value of $39,000 was sold resulting in a $14,000 gain.The accumulated depreciation at the time of the sale was $67,000.
Required:
1.Determine the cash paid for equipment purchases during 2015.
2.Determine the depreciation expense for 2015.
Hypothalamus
A region of the brain responsible for hormone production that controls body temperature, hunger, moods, and the release of hormones from the pituitary gland.
LH
Luteinizing Hormone, a hormone produced by the anterior pituitary gland, playing a key role in controlling reproductive function, including the stimulation of ovulation in females and testosterone production in males.
Ovulation
The release of an egg from the ovary into the fallopian tube, typically occurring around the middle of the menstrual cycle.
Testosterone Synthesis
The biochemical process in the body that produces testosterone, a vital hormone for male development and reproductive function.
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