Question: Vintage Records sold assets with an original cost of 45 000

Vintage Records sold assets with an original cost of $45,000 and accumulated depreciation of $30,000. If the cash proceeds from the sale were $13,500, what was the gain or loss on the sale? On which financial statement would that amount be shown? How much would be shown on the statement of cash flows and in which section?




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  • CreatedSeptember 01, 2014
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