Question 4 Your company sold equipment for $50,207. There were no others sales of assets during...
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Question 4 Your company sold equipment for $50,207. There were no others sales of assets during the period. You have a partial copy of the Income Statement for the period in which the equipment was sold. You know the equipment was sold for cash. Calculate the NBV of the equipment at the time of sale. INCOME STATEMENT Revenue $123,987 COGS $82,637 Gross $41,350 Profit Operating Expenses Operating Income $32,245 $9,105 Gain on Sale of PPE Net Book Value (NBV) of equipment at time of sale: 8 pts $10,548 Question 4 Your company sold equipment for $50,207. There were no others sales of assets during the period. You have a partial copy of the Income Statement for the period in which the equipment was sold. You know the equipment was sold for cash. Calculate the NBV of the equipment at the time of sale. INCOME STATEMENT Revenue $123,987 COGS $82,637 Gross $41,350 Profit Operating Expenses Operating Income $32,245 $9,105 Gain on Sale of PPE Net Book Value (NBV) of equipment at time of sale: 8 pts $10,548
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Related Book For
Business Statistics a decision making approach
ISBN: 978-0133021844
9th edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
Posted Date:
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