Recent Posts • Latest Topics • Unanswered Questions

Equipment acquired on January 1, 2012, is sold on June 30, 2015, for $4,500. The equipment cost ...

Tomm

wrote...

Go to Answer

Posts: 653

Rep:

6 years ago

Equipment acquired on January 1, 2012, is sold on June 30, 2015, for $4,500. The equipment cost ...

Equipment acquired on January 1, 2012, is sold on June 30, 2015, for $4,500. The equipment cost $10,000, had an estimated residual value of $3,000, and an estimated useful life of 5 years. The equipment has been amortized using the straight-line method. The journal entry to record the sale of the equipment involves a:
A) credit to Accumulated Depreciation for $4,900
B) credit to Gain on Sale of Asset for $600
C) debit to Accumulated Depreciation for $4,900
D) credit to Equipment for $3,000

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

Read 184 times

1 Reply

Report

ACC 925

Replies

Answer verified by a subject expert

Alexmosuthe

wrote...

Posts: 470

Rep:

6 years ago

More solutions for this book are available here

Report

Related Topics

Tomm Author

wrote...

6 years ago

Thank you, thank you, thank you!

deathDoUsPart

wrote...

Yesterday

You make an excellent tutor!

hpascoe

wrote...

2 hours ago

Correct

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

559 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

843

Your Opinion

Previous poll results: Should Ph.D.'s be addressed as doctors?

Bonobos, Chimpanzees, and the 98% DNA Link

Courses by Biology Forums

It's sore throat season, why does my mucus have red spots?

The Toxic Skin and Fungi Defense

Strange Ingredients Lurking in Doritos Chips

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.