Asset Sales
.Accumulated Depreciation 75,000 ..................................... Loss 15,000 ..................................... Cash 10,000 .................................................. ....... Equipment 100,000 Sold equipment costing $100,000 for $10,000. The equipment was 75% depreciated on the date of sale. EQUIPMENT Equipment is an asset Equipment is increased with a debit Equipment is decreased with a credit ACCUMULATED DEPRECIATION Accumulated Depreciation is a contra asset Accumulated Depreciation is increased with a credit Accumulated Depreciation is decreased with a debit LOSS Loss is similar to an expense, but usually relates to other than ongoing operations Loss is increased with a debit Loss is decreased with a credit CASH Cash is an asset Cash is increased with a debit Cash is decreased with a credit |
الساعة الآن 07:31 AM |
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