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How much cash was received from the disposal of machinery

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Reference no: EM133061758

Question - Royal Plastics provides the following information about its moulding machinery:

Opening balance of machinery account $500,000

Closing balance of machinery account $650,000

Depreciation expense for the year $50,000

Depreciation charged on machinery sold $130,000

Profit on sale of machinery $20,000

Carrying value of machinery sold $90,000

Required - How much cash was received from the disposal of machinery?

A. $20,000.

B. $100,000.

C. $90,000.

D. $110,000.

Reference no: EM133061758

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