A machine with a book value of $38,000 is sold for $32,000. Which of the following answers would accurately represent the effects of the sale on the elements of the financial statements? Assets=Liab.+Stk.EquityRev./Gain?Exp.=Net Inc.Stmt of Cash FlowA.38,000 NA 38,00038,000 NA 38,00038,000 IAB.(6,000) NA (6,000)NA 6,000 (6,000)6,000 OAC.(6,000) NA (6,000)NA 6,000 (6,000)6,000 IAD.(6,000) NA (6,000)NA 6,000 (6,000)32,000 IA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
You might also like to view...
Shareholders at Chesapeake Energy were most concerned about what corporate governance issue when they sued the company?
a. Sustainability b. Philanthropy c. Executive compensation d. Embezzlement e. Intrapreneurship
To effectively and efficiently sell the product, what type of salespeople should the company hire?
A) inside sales reps B) outside sales reps C) detail reps D) missionary reps E) direct sales reps
__________are statements of what is to be accomplished in singular, specific, and measurable terms, with a target date.
A. Mission statements B. Objectives C. Centralization D. Strategy E. Economic Value Added (EVA)
A power of attorney gives an agent the power to sign legal documents on behalf of the principal
Indicate whether the statement is true or false