Question
A company sold a piece of manufacturing equipment for $30,000 cash. The equipment had been listed on the balance sheet as a net book value
A company sold a piece of manufacturing equipment for $30,000 cash. The equipment had been listed on the balance sheet as a net book value of $25,000, so the company recorded a gain on sale of equipment of $5,000.
Which of the following items would be increased by this equipment sale transaction? (check all that apply)
- Net Income
- Cash from Operations
- Equipment
- Cash from Investing
- Total Assets
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Management Audits
Authors: Allan J. Sayle
3rd Edition
0951173901, 978-0951173909
