Mercury Company Reports Depreciation Expense of $40,000 for Year 2

question 193

Multiple Choice

Mercury Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000 was sold for its book value in Year 2. The following selected information is available for Mercury Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

• A)$32,000.
• B)$68,000.
• C)$38,000.
• D)$40,000.
• E)$36,000.

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Definitions:

Childhood Disintegrative Disorder

A rare condition characterized by late onset (at least after two years of normal development) of developmental delays in language, social function, and motor skills.

Asperger's Disorder

A former diagnostic category denoting a higher-functioning form of autism characterized by significant difficulties in social interaction and nonverbal communication, alongside restricted and repetitive patterns of behavior and interests.

Rett's Disorder

A rare genetic neurological and developmental disorder that affects the way the brain develops, leading to a progressive loss of motor skills and speech.

Preservation Of Sameness

The need or desire for consistency, routine, and predictability in one's environment, often emphasized in discussions of autism spectrum disorders as a common characteristic.