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Romanova Inc. decides to sell an old piece of equipment and receives $5,000 cash for...

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Question

Accounting

Romanova Inc. decides to sell an old piece of equipment and receives $5,000 cash for it. The original cost of the equipment was $50,000 and it had accumulated depreciation of $47,000 associated with it.

Which of the following items would be increased by the sale of the old equipment? (check all that apply)

Total Assets

Cash from Operating Activities

Gain on Sale

Cash from Investing Activities

Cash from Financing Activities

Answer & Explanation Solved by verified expert
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