Accounting Project 3 Question

[Lauren Fanuzzi]

Hey Group 3,

I know I asked this question on the boat, but I just wanted to make sure I got the answer right. For the question "Does your company report any gains or losses on asset sales?" in the PPR section, should that be in the financial notes for the PPE or should I also look at the balance sheet and cash flow statements? 

Thanks,

Lauren

[Clarice Ma]

Lauren,

You won't find gain or loss on asset sales on balance sheet.

You should be able to see it on cash flow statements - under disposal of assets