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Brief Exercise 8 . 5 ( Algo ) Effect of the disposal of plant assets on the financial statements LO 8 . 5 Mis B
Brief Exercise Algo Effect of the disposal of plant assets on the financial statements LO
Mis B Mabch Compory sold office equipment with a cost of $ and accumulated depreciation of $ for $ cash.
Required:
Q What is the ambunt of gan ar loss on the disposal?
b How would the sale affect net income increase decrease, no effect
c How would the sde affect the amount of tolal assets shown on the balance sheet increase decrease, no effect
d How waid the evem affect the staremem of cash flows inflow outlow, no effect
tableab Efinct of ale on net incomb,,c Efluct of sade on latsiserets.,,d Ehoct ef sele ah sharment at cash toes,r
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