Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

Exercise 16

Locate an annual report in your library (or some other source) that includes a large gain or loss on the disposal of fixed assets. Report to the class the amount of the gain or loss and where in the company's income statement it is reported. Describe how the gain or loss is reported in the company's statement of cash flows. Summarize any discussion in the footnotes concerning the cause of the disposal.