On September 10, 2006, Barden Company sold a piece of equipment for $3,000. The equipment had an original cost of $17,000 and accumulated depreciation of $15,500 at the time of the sale. Which of the following correctly shows the effect of the sale on the 2006 financial statements?

Which of the following statements historically described the term "par value?"

Select one:

a. The maximum liability of the investor.

b. The amount that must be paid to purchase a share of stock.

c. Determined by dividing total stockholder's equity by the number of shares of stock.

d. The number of shares currently in the hands of stockholders.

NA #9 Assets A 1500 B (1500) C 1500 D 1500 = Liabilities NA NA NA NA + Equity 1500 (1500) 1500 1500 Revenues or Gains - Expenses or Losses = Net Income Cash 1500 1500 3000 OA NA 1500 (1500) 3000 IA NA (1500) 1500 1500 NA 1500 3000 NA