When equipment having a net book value of $8,000 is sold for $6000 does the:

current assets increase, equipment decrease and net income decrease
current assets increase, equipment increases and net income decreases
current assets increase, equipment increases and net income increases
current assets increase, equipment decreases and net income increases

The answer is A

You shouldn't do other peoples homework.

May be the guy knows the answer but he want to make sure if he is right or wrong. Moreover, I don't think this is a homework. It is one simple question.

Thanks

Quote:

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Originally Posted by hamzashakaa

Moreover, i dont think this is a homework. It is one simple question.

Thanks

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Yes because I know I like to do mutiple chose questions for fun...

Also, if OP wanted to know if his answer was right why not include the answer and ask if it is right.

Moreover, read the site rules... Ask Me Help Desk - Announcements in Forum : Homework Help

It's not homework. I'm actually trying to learn accounting on my own in a financial class my employer has in its Professional Growth program. No grade just nice to have on the resume. This was a question asked in our Financial and Accounting Concepts Professional Growth manual. I didn't know the answer and I wanted to know.

Thank you for those that answered and didn't assume.

If that is true then fine I am sorry for assuming.

However, I still don't see how someone telling you the answer without explaining why is helping you learn anything at all.

All I am saying is if you want help learning post a question and what you think the answer might be. Then we can help explain the concepts to you.

Got to be agreeing with codyman on this. 99.999% of the time anything multiple choice is going to be homework, and yes, we're going to assume it's homework, and no one should be answering it for people. Considering that most of what we get here is indeed homework. Even if it's not, it's certainly not going to hurt to try to do it first.

It is also true that just giving answers with no explanation is not really helping anyone. Most math books have the odd or even answers in the back of the book - accounting books a lot of times have illustrative problems (i.e. answered). Obviously, that doesn't work or no one would be here asking questions. (Or need their instructors.)

Thanks Morgaine,

For some reason I seem to be getting attacked lately when all I am trying to do is help and follow the rules.

Codyman, I get attacked all the time... because I stick to my ethics and my guns, and I can tend to be a little controversial. LOL. (I also teach for a living, so I get pretty hyper about the homework issue.)

I disappeared for a few months and saw you when I got back, and kind of liked your style. So if no one else does, we can appreciate each other. :D