The balance in the accumulated depreciation account related to a specific asset after the disposal of...
The balance in the accumulated depreciation account related to a specific asset after the disposal of the asset is equal to:
Select one:
a. The cost of disposed asset
b. The profit or loss resulting from the sale of the asset
c. Zero
d. The amount of cash received from sale
Homework Answers
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Answer) option C Zero when the asset is sold the accumulated depreciation related to that asset after disposal will amount to zero , as this is asset is sold the asset needs to be removed from the books , so will be the accumulated depreciation ,Thus a reversing entry will be passed thus the balance will amount to zero |
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The balance in the accumulated depreciation account related to a
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