Un Company sold office equipment with a cost of $ and accumulated depreciation of $ for $
Required
a What is the book value of the asset at the time of sale?
b What is the amount of gain or loss on the disposal?
c How would the sale affect net income increase decrease, no effect and by how much?
d How would the sale affect the amount of total assets shown on the balance sheet increase decrease, no effect and by how much?
e How would the event affect the statement of cash flows inflow outflow, no effect and in what section?
tableaBook value,,,bGain loss on sale,,,cNet income would,,bydTotal assets would,,byeEffect,,,Section,,,
