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Question 2 of 11 P Beatty LLC has equipment with a historical cost of $24,000 and accumulated depreciation of $10,000. If Beatty sells the equipment and receives $11,200 cash for the sale, what will be the effect of the sale on Beatty's net income (ignoring taxes)? If this transaction will add to the company's net income, enter your answer as a positive number. If this transaction will reduce the company's net income, enter your answer as a negative number. Effect on Net Income: $1

Question 2 of 11 P Beatty LLC has equipment with a historical cost of $24,000 and accumulated depreciation of $10,000. If Beatty sells the equipment and receives $11,200 cash for the sale, what will be the effect of the sale on Beatty's net income (ignoring taxes)? If this transaction will add to the company's net income, enter your answer as a positive number. If this transaction will reduce the company's net income, enter your answer as a negative number. Effect on Net Income: $1

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 2 of 11 Beatty LLC has equipment with a historical cost of $24,000 and accumulated depreciation of $10,000. If Beatty sells the equipment and receives $11,200 cash for the sale, what will be the effect of the sale on Beatty's net income (ignoring taxes)? If this transaction will add to the company's net income, enter your answer as a positive number. If this transaction will reduce the company's net income, enter your answer as a negative number. Effect on Net Income: $
Transcribed Image Text:Question 2 of 11 Beatty LLC has equipment with a historical cost of $24,000 and accumulated depreciation of $10,000. If Beatty sells the equipment and receives $11,200 cash for the sale, what will be the effect of the sale on Beatty's net income (ignoring taxes)? If this transaction will add to the company's net income, enter your answer as a positive number. If this transaction will reduce the company's net income, enter your answer as a negative number. Effect on Net Income: $
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