Indicate the effect of the following transaction on total stockholders' equity by placing an "X" in...

Indicate the effect of the following transaction on total stockholders' equity by placing an "X" in the appropriate column.

Increase Decrease No Effect

Sale of asset with no gain or loss _________ _________ _________

Expert Solution

Transaction Increase Decrease No Effect

Sale of asset with no gain or loss - - X

Explanation:

When an assets is sold with no gain or loss then it does not effect the Stockholders equity since there is no any gain or loss so it's impact will be only in assets side Fixed Assets will be decline and with the same amount Bank/Cash will be increases.

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ekkarill92 answered 2 years ago

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