Homework Answers
Book value = Cost - Accumulated Depreciation
= 8,000,000 - 7,700,000 = 300,000
| A | Cash | 300,000 | |
| Accumulated Depreciation | 7,700,000 | ||
| Furniture | 8,000,000 | ||
| B | Cash | 900,000 | |
| Accumulated Depreciation | 7,700,000 | ||
| Gain on disposal | 600,000 | ||
| Furniture | 8,000,000 | ||
| C | Cash | 100,000 | |
| Accumulated Depreciation | 7,700,000 | ||
| Loss on disposal | 200,000 | ||
| Furniture | 8,000,000 | ||
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