If the Balance of the Plant and Equipment Asset Account

Multiple Choice

If the balance of the plant and equipment asset account at the beginning of the year is $800 000,the closing balance is $650 000,and plant and equipment originally purchased for $165 000 are sold during the year,the amount spent on purchases of new plant and equipment during the year equals:

A) $485 000
B) $135 000
C) $150 000
D) $15 000