The Following Information Is Given for Building Inc During 2005 New Assets Were Purchased for of $78,000, and l

question 16

Multiple Choice

The following information is given for Building Inc.:
$$\begin{array} { l r r } \text { As of 12/31 } & { 2005 } & 2004 \\\text { PPE } & \$ 570,000 & \$ 530,000 \\\text { Accumulated depreciation } & 102,000 & 92,000 \\\text { Depreciation expense } & 30,000 & 32,000\end{array}$$
During 2005 new assets were purchased for of $78,000, and plant assets were sold at a $10,000 loss.
-What were the cash proceeds from the sale?

• A)$38,000
• B)$18,000
• C)$10,000
• D)$8,000

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Definitions:

Hydrogen Bonds

A type of weak chemical bond that occurs when a hydrogen atom bonded to a highly electronegative atom, such as oxygen or nitrogen, experiences an attraction to another electronegative atom.

Cytosine

A pyrimidine base found in DNA and RNA that pairs with guanine.

Guanine

One of the four main nucleobases found in DNA and RNA, it pairs with cytosine during DNA replication.

Hydrogen Bonds

Weak bonds formed between a hydrogen atom and a more electronegative atom, important in the structure of DNA and proteins.