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The Impact of Asset Sales on Financial Statements

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Last year Apple charged $3,416,267 depreciation on the Income Statement of Andrews. If early this year Apple sold all its depreciable assets for their book value, the effect on Andrews financial statements would be (all other items remaining equal):

Just impact the balance sheet
No impact on Net Cash from operations
Decrease net cash from operations on the Cash Flow statement
Increase net cash from operations

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Solution Preview

The purchase or sale of fixed assets affect cash flows from investing activities. If Apple sold all of its assets at their book values, it would not realize a ...

Solution Summary

This solution discusses the effect of selling fixed assets at their book values on financial statements.

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