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Ichor Co. reported equipment with an original historical cost of $400,000 and $350,000 and accumulated...

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Accounting

Ichor Co. reported equipment with an original historical cost of $400,000 and $350,000 and accumulated depreciation of $150,000 and $125,000, respectively, in its comparative financial statements for the years ended December 31, Year 1 and Year 2. During Year 2, Ichor purchased equipment costing $50,000 and sold equipment with a carrying amount of $60,000. What amount should Ichor report as depreciation expense for Year 2?

Shouldn't the answer be 225 + 50 -60 - X = 250? X = 35

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