A firm acquired a $650,000 fixed asset that has a four-year life and a residual value of

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A firm acquired a $650,000 fixed asset that has a four-year life and a residual value of $50,000. Show the effects on the balance sheet equation of the asset’s disposal at the end of the fourth year, assuming the following separate circumstances:

a. The asset is sold for its estimated residual value.

b. The asset is sold for $75,000.

c. The asset is sold for $35,000.

d. The asset is scrapped (junked) and disposal costs are $10,000.

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