Orr Corporation sold equipment for $30,000. The equipment had an original cost of $90,000 and accumulated depreciation of $45,000. As a result of the sale, Select one: a. net income will increase $15,000. b. net income will decrease $15,000. C. net income will increase $30,000. d. net income will decrease $30,000

Orr Corporation sold equipment for $30,000. The equipment had an original cost of $90,000 and accumulated depreciation of $45,000. As a result of the sale, Select one: a. net income will increase $15,000. b. net income will decrease $15,000. C. net income will increase $30,000. d. net income will decrease $30,000

Name: Orr Corporation sold equipment for $30,000. The equipment had an orig
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Description: Orr Corporation sold equipment for $30,000. The equipment had an original cost of $90,000 andaccumulated depreciation of $45,000. As a result of the sale,Select one:a. net income will increase $15,000.b. net income will decrease $15,000.C. net incom

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 32CE

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