Question: please answer will leave a like! In 2021, Smith, Inc. sold a long-term asset. In 2021, which of the following properly completes this equation: depreciation
In 2021, Smith, Inc. sold a long-term asset. In 2021, which of the following properly completes this equation: "depreciation expense on Smith's 2021 Income statement - (absolute value of accumulated depreciation on Smith's 2021 balance sheet - absolute value of accumulated depreciation on Smith's 2020 balance sheet) + ? O 1) Accumulated depreciation of the sold asset. 2) Book value of the sold asset. 3) Book value of sold asset in 2021 - book value of sold asset in 2020. 4) Absolute value of accumulated depreciation of sold asset in 2021 - absolute value of accumulated depreciation of sold asset in 2020. 5) None of the accounts listed above properly complete this equation
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