s been depreciated $50,000. register the disposal under these assumptions.
(a) it be scrapped as have no value
(b) it be sold for 21,000
(c) it was sold for $31,000
Answers: If it have office furniture that cost $75,000 and that have been depreciated $50,000, its network book value would be $25,000. Record the disposal beneath these assumptions.
(a) it was scrap as having no effectiveness
Dr Fixed assets written off $25,000 (expense item)
Dr Accumulated depreciation $50,000
Cr Office furniture $75,000
(b) it be sold for 21,000
Dr Cash $21,000
Dr Loss on disposal of office equipment $4,000
Dr Accum. depn. $50,000
Cr Off. equip. $75,000
(c) it be sold for $31,000
Dr Cash $31,000
Dr Accum. depn $50,000
Cr Off. equip. $75,000
Cr Gain on disposal of off. equip. $6,000
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(a) it be scrapped as have no value
(b) it be sold for 21,000
(c) it was sold for $31,000
What kind of internal controls should be put contained by place for a business?
Answers: If it have office furniture that cost $75,000 and that have been depreciated $50,000, its network book value would be $25,000. Record the disposal beneath these assumptions.
(a) it was scrap as having no effectiveness
Dr Fixed assets written off $25,000 (expense item)
Dr Accumulated depreciation $50,000
Cr Office furniture $75,000
(b) it be sold for 21,000
Dr Cash $21,000
Dr Loss on disposal of office equipment $4,000
Dr Accum. depn. $50,000
Cr Off. equip. $75,000
(c) it be sold for $31,000
Dr Cash $31,000
Dr Accum. depn $50,000
Cr Off. equip. $75,000
Cr Gain on disposal of off. equip. $6,000
Resolved Questions: