ANDERS COMPANY Comparative Balance Sheets
2021 2020
Plant assets
Equipment $ 180,000 $ 270,000
Accum. Depr.—Equipment (100,000 ) (210,000 )
Equipment, net $ 80,000 $ 60,000
Buildings $ 380,000 $ 400,000
Accum. Depr.—Buildings (100,000 ) (285,000 )
Buildings, net $ 280,000 $ 115,000
During 2021, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000.
How much depreciation expense was recorded on equipment during 2021?

Financial information that is capable of making a difference in a decision is

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $