If the company sold the office equipment at a cost of $23,000.The book value of the asset at the time of sale is $11,000.
Book value
Using this formula
Book value=Office equipment-Accumulated depreciation
Where:
Office equipment=$23,000
Accumulated depreciation=$12,000
Let plug in the formula
Book value=$23,000-$12,000
Book value=$11,000
Inconclusion the book value of the asset at the time of sale is $11,000.
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