On January 2 2022 Niceville Corporation Sold Equipment for $40000

question 151

Multiple Choice

On January 2 2022 Niceville Corporation sold equipment for $40000 cash.The equipment had an original cost of $150000 and accumulated depreciation of $90000.Use the following tabular analysis to record the sale.

• A)Increase Cash $40000 decrease Equipment $150000 decrease Accumulated Depreciation $90000 and increase Revenues $20000.
• B)Increase Cash $40000 decrease Equipment $60000 and decrease Revenues $20000.
• C)Increase Cash $40000 increase expenses (loss) $20000 decrease Equipment $150000 and decrease Accumulated Depreciation $90000.
• D)Increase Cash and decrease Equipment $40000.

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Definitions:

Tricyclic

A type of antidepressant medication used to treat depression by affecting neurotransmitter levels in the brain.

Benzodiazapine

A class of psychoactive drugs known to act upon the central nervous system, used mainly for their sedative, anxiety-reducing, muscle-relaxing, and anticonvulsant properties.

Antidepressant Medication

Drugs specifically designed to relieve symptoms of depression by altering chemical balances within the brain, often affecting neurotransmitters.

Worthless

Refers to something that has no value, importance, or usefulness.