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A plant asset with a cost of $50,000 and accumulated depreciation of $44,000 is sold for $10,000. A-) How would the sale affected the amount
A plant asset with a cost of $50,000 and accumulated depreciation of $44,000 is sold for $10,000.
A-) How would the sale affected the amount of total assets shown on the balance sheet and by how much?
???Amount??? Increase
B-) How would the event affect the statement of cash flows and in what section?
Cash flow (???Amount???) Increase section is investing activity
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The Auditors Guide Of 1869 A Review And Computer Enhancement Of Recently Discovered Old Microfilm Of Americas First Book On Auditing By H J Mettenheimer
Authors: Peter L. McMickle, Paul H. Jensen
1st Edition
0367534622, 978-0367534622
