Multiple Choice
A book manufacturing company sells equipment for $450,000 when the book value of the equipment is $400,000.The company would record the extra $50,000 as:
A) a gain,increasing net income and shareholders' equity.
B) revenue,increasing net income and shareholders' equity.
C) cash,increasing assets and shareholders' equity.
D) accumulated amortization,increasing assets and shareholders' equity.
Correct Answer:
Verified
Correct Answer:
Verified
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