1.

Record transactionsrelating to depreciationand disposition ofassets;​

Answer»

No PROCEEDS, fully depreciated. Debit all accumulated depreciation and credit the fixed asset.LOSS on sale. Debit CASH for the AMOUNT received, debit all accumulated depreciation, debit the loss on sale of asset ACCOUNT, and credit the fixed asset.Gain on sale.



Discussion

No Comment Found

Related InterviewSolutions