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Test: CPA Financial Accounting and Reporting (FAR)
1. | Florax Company begins Year 2 with $8,000 in its machinery & equipment account and $1,500 in related accumulated depreciation. During Year 2, Florax bought $4,000 in additional equipment and recorded total depreciation expense for the year of $800. What amount will Florax report as net machinery & equipment in its Year 2 balance sheet |
$12,000
$12,000
$9,700
$14,300
Chandni
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Miami University-Middletown, Bachelor of Science, Biology, General. Wright State University-Main Campus, Master of Science, A...
Andrew
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Concordia College - Moorhead, Bachelor of Chemistry, Chemistry. University of Notre Dame, Doctor of Science, Organic Chemistry.
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