PLANT ASSET DISPOSALS --SALES asset originally purchased on 1 1/ 1 / 96 is sold on 1 / 1 / 99 for $8,000. Gain or loss on disposal: $8,000 Cash proceeds 5,000 Book Value of asset $3,000 gain on disposal 8,000 15,000 20,000 3,000.
PLANT ASSET DISPOSALS --SALES asset originally purchased on 1 1/ 1 / 96 is sold on 1 / 1 / 99 for $8,000. Gain or loss on disposal: $8,000 Cash proceeds 5,000 Book Value of asset $3,000 gain on disposal 8,000 15,000 20,000 3,000.
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PLANT ASSET DISPOSALS --SALES asset originally purchased on 1 1/ 1 / 96 is sold on 1 / 1 / 99 for $8,000. Gain or loss on disposal: $8,000 Cash proceeds 5,000 Book Value of asset $3,000 gain on disposal 8,000 15,000 20,000 3,000.
Direitos autorais:
Attribution Non-Commercial (BY-NC)
Formatos disponíveis
Baixe no formato PDF, TXT ou leia online no Scribd
Asset originally purchased on 1/1/96 is sold on 1/1/99 for $8,000. Equipment Accumulated Depreciation-Equipment 20,000 12/31/96 5,000 12/31/97 5,000 12/31/98 5,000 Bal. 15,000 Book Value = $5,000 Entry: Cash 8,000 Accumulated Depreciation-Equipment 15,000 Equipment 20,000 Gain on Disposal 3,000 Calculation of gain or loss on disposal: Cash proceeds $8,000 Book value of asset 5,000 Gain on disposal $3,000
Copyright 1999 John Wiley & Sons, Inc. Weygandt/Principles 5e T T 10–I