Question
Maine Company sold a plant asset during 2021. The original cost of the plant asset was $500,000 and the accumulated depreciation at date of sale
Maine Company sold a plant asset during 2021. The original cost of the plant asset was $500,000 and the accumulated depreciation at date of sale was $350,000. The proceeds from the sale of the plant asset were $70,000. The effect of the sale of this asset on the operating activities section is?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
