On what documents (and where) would a sale of some of your company\'s equipment
ID: 1190008 • Letter: O
Question
On what documents (and where) would a sale of some of your company's equipment for cash appear?
Question 11 options:
On the income statement under net income
On the owner's equity section of the balance sheet
On th income statement, under operating revenue
On the asset section of the balance sheet and the investment section of the cash flow statement.
On the assets section of the balance sheet
On the cash flow statement, under investment
On the income statement under net income
On the owner's equity section of the balance sheet
On th income statement, under operating revenue
On the asset section of the balance sheet and the investment section of the cash flow statement.
On the assets section of the balance sheet
On the cash flow statement, under investment
Explanation / Answer
Correct Answer: On the asset section of the balance sheet and the investment section of the cash flow statement.
It has created impact on the assets side of Balance sheet since there is generation of cash by dispossing off fixed assets. Further it also influence the Net income and equity by profit or loss on the sale of assets.
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