Question
Equipment that cost $90000 and on which $50000 of accumulated depreciation has been recorded was disposed of for $45000 cash. The entry to record this
Equipment that cost $90000 and on which $50000 of accumulated depreciation has been recorded was disposed of for $45000 cash. The entry to record this event would include a
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| loss of $5000. |
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| credit to Accumulated Depreciation for $15000. |
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| gain of $5000. |
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| credit to the Equipment account for $15000. |
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Performance Auditing A Measurement Approach
Authors: Ronell B. Raaum CGAP CGFM, Stephen L. Morgan CIA CGAP CFE CGFM
2nd Edition
0894136607, 9780894136603
