A truck that cost $105,000 and on which $50,000 of accumulated depreciation has been recorded was disposed
Fantastic news! We've Found the answer you've been seeking!
Question:
A truck that cost $105,000 and on which $50,000 of accumulated depreciation has been recorded was disposed of for $45,000 cash. The entry to record this event would include a
gain of $10,000.
loss of $10,000.
credit to the Truck account for $55,000.
credit to Accumulated Depreciation for $50,000.
Related Book For
International Financial Management
ISBN: 978-0132162760
2nd edition
Authors: Geert Bekaert, Robert J. Hodrick
Posted Date: