Question

Equipment that cost $54,000 and had $30,000 of accumulated depreciation was disposed of for $27,000 cash. The entry to record this event would include a?

Answer 1

Accumulated depreciation changed into disposed of for $27,000 cash. The access to file this event could include a gain of $3,000

Gross e-book fee=$54,000.00

Acc Deprecition=($30,000.00)

net e-book fee as on date of sale=$24,000.00

Sale Proceeds=$27,000.00

advantage =$3,000.00

Amassed depreciation is the sum of all recorded depreciation on an asset to a specific date. accumulated depreciation is supplied at the stability sheet just beneath the associated capital asset line. The wearing price of an asset is its ancient value minus collected depreciation.

As an example, if an organization purchased a bit of printing gadget for $ hundred,000 and the collected depreciation is $35,000, then the internet ebook price of the printing device is $65,000. $one hundred,000 - $35,000 = $65,000. gathered depreciation can't exceed an asset's price.

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