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please help with these questions I'm struggling Uno Company sold office equipment with a cost of $35,690 and accumulated depreciation of $31,932 for $5,480 Required
please help with these questions I'm struggling
Uno Company sold office equipment with a cost of $35,690 and accumulated depreciation of $31,932 for $5,480 Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? (Loss amount should be indicated with a minus sign.) c. How would the sale affect net income increase, decrease, no effect) and by how much d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much? e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section? C d Book value Gain (loss) on sale Not Income would Total assets would Cash flow would Section by by by Delta Machine Company purchased a computerized assembly machine for $108,000 on January 1 Year 1. Delta Machine Company estimated that the machine would have a life of four years and a $11,000 salvage value. Delta Machine Company uses the straight-line method to compute depreciation expense. At the beginning of Year 3. Delto discovered that the machine was quickly becoming obsolete and would have little value at the end of its useful life. Consequently, Delta Machine Company revised the estimated salvage to only $3,000It did not change the estimated useful life of the machine Compute the depreciation expense for each of the four years Years Depreciation Expense Year 1 Year 2 Year 3 Year 4 Indicate whether each of the following statements is true or false, a) Long-term assets having no physical substance are called intangible assets b) Trademarks are examples of an intangible asset c) Natural resources are examples of tangible long-term assets. d) The reason that land is classified separately from other tangible assets is because the cost is normally much higher e) Goodwill is classified as Plant, Property and Equipment Step by Step Solution
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