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the only thing incorrect on this problem is b. gain (loss) on sale. i am not sure how to find that number. thank you for
the only thing incorrect on this problem is b. gain (loss) on sale. i am not sure how to find that number. thank you for the help
Un Company sold office equipment with a cost of $44,540 and accumulated depreciation of $40,507 for $5,590. 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? 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 (increase, decrease, no effect) and in what section? b 4,0331 34.917 G Book value Gain (los) on sale Net income would Total assets would Effect on statement of cash flows Section 5 5 increase by 1.557 increase by 1,557 increase by $5,590 Investing activities d e Step by Step Solution
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