Chapter A, Problem A.5E

Compute the lower cost or net realizable value

No copy paste if image is blur then don't answe and don't answer if you don't know value  sure unhelpful Will given

Can you help me solve this general accounting question using valid accounting techniques?

This is general accounting problem please help me solve

I am trying to find the accurate solution to this general accounting problem with appropriate explanations.

General accounting question

On January 1, 2022, Hoda Corp. sells a piece of equipment for $31,000. The equipment was originally purchased on January 1, 2020, for $56,000. The equipment was estimated to have a useful life of 4 years and a residual value of $0. Hoda uses straight-line depreciation. How will Hoda record this transaction?

What is the firm's total liabilities?

Please provide the answer to this financial accounting question using the right approach.