Which of the following is correct when recording the disposal of equipment for a gain? Group of answer choices A)A debit to a gain account. b)A credit to the equipment account for the asset's net book value. C)A debit to accumulated depreciation for the depreciation accumulated to the date of disposal. D)A credit to cash. e)None of the above
Which of the following is correct when recording the disposal of equipment for a gain? Group of answer choices A)A debit to a gain account. b)A credit to the equipment account for the asset's net book value. C)A debit to accumulated depreciation for the depreciation accumulated to the date of disposal. D)A credit to cash. e)None of the above
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 1QY: Which of the following is the adjusting entry for depreciation on Equipment? Debit Depreciation...
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Which of the following is correct when recording the disposal of equipment for a gain?
Group of answer choices
A)A debit to a gain account.
b)A credit to the equipment account for the asset's net book value.
C)A debit to accumulated depreciation for the depreciation accumulated to the date of disposal.
D)A credit to cash.
e)None of the above
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