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P8-4B. Disposing of an asset (Learning Objective 5) 15-20 min. Ferguson Industries had a piece of equipment that cost $49,000 and had accumulated depreciation
P8-4B. Disposing of an asset (Learning Objective 5) 15-20 min. Ferguson Industries had a piece of equipment that cost $49,000 and had accumulated depreciation of $45,000. Requirement 1. Record the disposition of the equipment assuming the following independent situations: a. Ferguson Industries discarded the equipment, receiving $0. b. Ferguson Industries sold the equipment for $6,000 cash.
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
135017114, 978-0135017111
