Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 48

Refer to the balance sheet data above from Anders Company. During 2015, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000.
1. How much cash did Anders receive from the sale of the building
2. How much depreciation expense was recorded on buildings during 2015
3. What was the cost of buildings purchased by Anders during 2015