Question: Hello, Record the journal entry for the three alternative disposals of the fork lift and note the effect to netincome for each alternative. The three

Hello,

"Record the journal entry for the three alternative disposals of the fork lift and note the effect to netincome for each alternative. The three alternatives for disposal are (1) selling the forklifts for$8,000 each; (2) refurbishing the forklifts for $6,000 (and being reimbursed for those costs) and then selling the forklifts for $14,000; and (3) retiring the forklifts fromuse (and removing them from thebalance sheet)" This is the question that I have a problem about. When retiring an equipment does that change the income sheet as a loss or does it not have any effect?

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