Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 10 Several years ago, Beglen, Inc. purchased a computer costing $90,000, for which total depreciation of $70,000 has been recorded. Assuming that the computer

image text in transcribed
QUESTION 10 Several years ago, Beglen, Inc. purchased a computer costing $90,000, for which total depreciation of $70,000 has been recorded. Assuming that the computer is sold for $30,000 cash, the proper entry to record the sale is A Debit Cash, $30,000; Debit Accumulated Depreciation, $70,000 Credit Computer, $90,000 B. Debit Cash, $30,000; Debit Accumulated Depreciation, $70,000 Credit Computer, $90,000 Credit Gain on Sale of Computer, $10,000 C. Debit Cash, $30,000; Credit Computer $20,000; Credit Gain on Sale of Computer, $10,000 D. Debit Cash, $30,000; Debit Accumulated Depreciation, $70,000: Credit Computer, $96,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Audit And Survey Of Street Light System A Preliminary Report

Authors: Dr. Manoj Dhondiram Patil

1st Edition

B08GBCWWFY, 979-8676818388

More Books

Students also viewed these Accounting questions

Question

Why might ambient persuasive technology be effective in daily life?

Answered: 1 week ago

Question

Define procedural justice. How does that relate to unions?

Answered: 1 week ago