Equipment with an original cost of $75,370 and accumulated depreciation of $21,037 was sold at a...

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Question

Equipment with an original cost of $75,370 and accumulated depreciation of $21,037 was sold at a...

Equipment with an original cost of $75,370 and accumulated depreciation of $21,037 was sold at a loss of $5,147. As a result of this transaction, cash would

a.increase by $49,186

b.decrease by $5,147

c.increase by $75,370

d.decrease by $21,037

business accounting

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Answer 1

Answer #1

Book value = Cost - Accumulated Depreciation

= 75,370 - 21,037 = 54,333

Increase in cash

= 54,333 - loss of 5147

= 49,186

Option A is the answer

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Answer 2

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