Equipment with an original cost of $79,153 and accumulated depreciation of $21,214 was sold at a loss of $6,567. As a result of this transaction, cash would a.increase by $51,372 b.decrease by $21,214 c.decrease by $6,567 d.increase by $79,153

Equipment with an original cost of $79,153 and accumulated depreciation of $21,214 was sold at a loss of $6,567. As a result of this transaction, cash would a.increase by $51,372 b.decrease by $21,214 c.decrease by $6,567 d.increase by $79,153

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.4MBA

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Question

Equipment with an original cost of $79,153 and accumulated depreciation of $21,214 was sold at a loss of $6,567. As a result of this transaction, cash would

a.increase by $51,372

b.decrease by $21,214

c.decrease by $6,567

d.increase by $79,153

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