take Test: Test 2 Chapters 4-7 13 of 40 12. O 13. O 14. O 15. C 16. A company sold equipment at a loss. What is the impact on the balance sheet of removing the equipment account and its related accumulated depreciation account? O a Reduces total assets O b. Increases total assets c. Increase total assets and decrease total equity d.Has no effect on total assets 18. O 19. C 20. O 21 O 22. C 24. CO 25. O O Type here to search 124 PM /10/2018