Equipment is sold for cash in an amount equal to the cost of the equipment recorded on the books. How does this sale affect the accounting equation?

Name: Equipment is sold for cash in an amount equal to the cost of the equipment recorded on the books. How does this sale affect the accounting equation?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When equipment is sold for cash at its book value, cash (an asset) increases while equipment (another asset) decreases by the same amount, leaving the overall assets unchanged.

Equipment Is Sold for Cash in an Amount Equal to the Cost