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how could the sales affect the income how would the salws affect the amount of total assers shown on the bakance sheet A plant asset

how could the sales affect the income image text in transcribed
how would the salws affect the amount of total assers shown on the bakance sheet
image text in transcribed
A plant asset with a cost of $50,000 and accumulated depreciation of $44,000 is sold for $10,000 Required a. What is the book value of the asset at the time of sale? Book value $ 6,000 b. What is the amount of gain or loss on the disposal? Gain on sale $ 4,000 c. How would the sale affect net income increase, decrease no effect) and by how much? Amount Effect Net income Increase d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much? Amount Effect Amount of total assets Increase e. How would the event affect the statement of cash flows (inflow. outflow, no effect) and in what section? Amount Effect $ 10,000 Increase Section Investing activity Cash flow

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