Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company sells a plant asset that originally cost

A company sells a plant asset that originally cost $540000 for $195000 on December 31,2022...

60.1K

Verified Solution

Question

Accounting

image

A company sells a plant asset that originally cost $540000 for $195000 on December 31,2022 . The accumulated depreciation account had a balance of $270000 after the current year's depreciation of $45000 had been recorded. The company should recognize a $55000 gain on disposal. $195000 loss on disposal. $195000 gain on disposal. $75000 loss on disposal

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students