During the period teens trends sold some excess equipment

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During the period, Teen's Trends sold some excess equipment at a loss. The following information was collected from the company's accounting records:

  • From the income statement
  • Depreciation expense $ 700
  • Loss on sale of equipment 4,000
  • From the balance sheet
  • Beginning equipment 12,500
  • Ending equipment 7,000
  • Beginning accumulated depreciation 2,000
  • Ending accumulated depreciation 2,200

No new equipment was bought during the period.

Required:
For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale.

Reference no: EM13582855

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