When an asset is sold, the entries for the accumulated de...
When an asset is sold, the entries for the accumulated depreciation are; debit
Assets disposal account; credit provision for depreciation account
Provision for depreciation account; credit asset disposal account
Fixed asset account; credit asset disposal account
Asset disposal account; credit fixed asset account
Correct answer is B
Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset.
The end result of governmental accounting procedure is to ...
The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the...
\(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\\ \text{Rent received dur...
Miscellaneous expense is 10% of revenue Calculate the net income. ...
Use the following information to answer the given question \(\begin{array}{c|c} & \text{1/1/8...
Ata, Bubu and Chikum were in partnership sharing profits and losses in proportion to their capi...
The value of goods sent to a branch is debited to the ...
Given: Capital at start.......................N3250 Capital at close .....................N6250 A...