Un Company sold office equipment with a cost of $42,960 and accumulated depreciation of $39,803 for $5,640. a. what is the book value of the asset at the time of sale b, what is the amount of gain/loss on the disposal c. how would the sale affect net income and by how much d. how would the sale affect the amount of total assets shown on the balance sheet e. how would the event affect the statements of cash flows

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Un Company sold office equipment with a cost of $42,960 and accumulated depreciation of $39,803 for $5,640.

a. what is the book value of the asset at the time of sale

b, what is the amount of gain/loss on the disposal

c. how would the sale affect net income and by how much

d. how would the sale affect the amount of total assets shown on the balance sheet

e. how would the event affect the statements of cash flows

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