Thunder Corporation Had a Beginning Balance in Net Plant Assets

question 110

Multiple Choice

Thunder Corporation had a beginning balance in net plant assets of $220,000. During the year, Thunder purchased $60,000 of new plant assets. Depreciation expense for the year was $30,000 and there was a net gain on the sale of plant assets was $3,000. The ending balance in net plant assets was $170,000. The cash received from the sale of the plant assets was:

• A)$80,000.
• B)$88,000.
• C)$83,000.
• D)none of the above.

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