Question: Multiple Choice Question 166 Touch Tronix Company has a piece of manufacturing equipment that has become obsolete. On December 21, 2017, the company discards

Multiple Choice Question 166 Touch Tronix Company has a piece of manufacturing equipment that has become obsolete. On December 21, 2017, the company discards the equipment which has a historical cost of $600,000 and accumulated depreciation of $530,000. What is the net impact on the long-term assets of Touch Tronix Company on its December 31, 2017 1 statement of financial position? Lady O Decrease of $1,130,000. O O O Decrease of $600,000. Increase of $70,000. Decrease of $70,000. DELL Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER ENG 08:05 -> --- F2 F3 FS FO #7 FO FO F10 PIT F12 Insert Delete 9 # $ % 3 r 4 5 6 C T Y 8 L 7 * Y ' Backs 00 7 9 2 C + x P

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