Early Works Had $87,600 in Net Fixed Assets at the Beginning

question 32

Multiple Choice

Early Works had $87,600 in net fixed assets at the beginning of the year.During the year,the company purchased $6,400 in new equipment.It also sold,at a price of $2,300,some old equipment with a book value of $1,100.The depreciation expense for the year was $3,700.What is the net fixed asset balance at the end of the year?

• A)$76,400
• B)$78,800
• C)$80,000
• D)$87,200
• E)$89,400

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