35 -Profit from the sale of property, plant and equipment with the intent to renew is recorded in which of the following accounts? a)Net Profit for the Period Hs. B)Stock Issue Premiums Hs. NS)Legal Reserves Hs. D)Private Funds Hs. TO)Period Net Loss Hs.

Profit on sale of property plant and equipment is recorded in Profit / loss account.

Answered: 35 - Profit from the sale of property,…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.4MBA

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Profit from the sale of property, plant and equipment with the intent to renew is recorded in which of the following accounts?

a)	Net Profit for the Period Hs.

B)	Stock Issue Premiums Hs.

NS)	Legal Reserves Hs.

D)	Private Funds Hs.

TO)	Period Net Loss Hs.

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35 - Profit from the sale of property, plant and equipment with the intent to renew is recorded in which of the following accounts? a) Net Profit for the Period Hs. B) Stock Issue Premiums Hs. NS) Legal Reserves Hs. D) Private Funds Hs. TO) Period Net Loss Hs.

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