Assume that Hart Corporation?s comparative balance sheet reported these amounts: Requirement Assume that on January 1, 2018,

Question:

Assume that Hart Corporation?s comparative balance sheet reported these amounts:

Requirement

Assume that on January 1, 2018, Hart sold one-tenth of its plant and equipment for $56,000 cash. Journalize this transaction for Hart.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...