Minty Fresh Co. manufactures and sells chewing gums direct to malls. Last month, the company completed sale of its fleet of dump trucks to Xilhoute Co. for Php14Mio sale proceeds. Assuming cost of property was 10Mio, the 4Mio is called a. Gain on sale b. Sales Revenue c. Depreciation d. Amortization

Minty Fresh Co. manufactures and sells chewing gums direct to malls. Last month, the company completed sale of its fleet of dump trucks to Xilhoute Co. for Php14Mio sale proceeds. Assuming cost of property was 10Mio, the 4Mio is called a. Gain on sale b. Sales Revenue c. Depreciation d. Amortization

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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