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

A company sells a plant asset which originally cost $370000 for $112000 on December 31,2021...

80.2K

Verified Solution

Question

Accounting

image
A company sells a plant asset which originally cost $370000 for $112000 on December 31,2021 . The Accumutated Depreciation account had a balance of $146000 after the current year's depreciation of $39000 had been recorded. The company should recognize \$112000 loss on disposat. $258000 loss on disposal. $112000 gain on disposal $74000 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

Geometry
1.2K views

If two figures are similar what must be true about their corresponding side lengths Proportional...

Chemistry
1.2K views

Determine the pH of each of the following solutions. (a) 0.637 M hydrosulfuric acid (weak acid...

Statistics
1.2K views

Carpetland salespersons average $8000 in sales per week. Steve Contois, the firm’s vice president, proposes a...

General Management
1.2K views

______1. Reports use which of these approaches: A. the direct approach B. the indirect approach C. a combination...

Physics
1.2K views

Assertion Mass is a property of one object alone whereas weight results from the interaction...

Basic Math
1.2K views

Unit 09 Learning Target #1: I can describe subsets of a sample space in terms...

Basic Math
1.2K views

Chris is enrolled in a college algebra course and earned a score of 260 on...

Algebra
1.2K views

Find the sum of the given infinite geometric series described as 3 + 2+ 4/3...

Algebra
1.2K views

Show steps neatly 8 3x 2y 6 3 5 3 5 each inequality Yes or...

Algebra
1.2K views

2 Combine like terms to simplify the expression below x 2x 6 2x 3x 4

Accounting
1.2K views

Sheffield Company has accounts receivable of $114,600 at March 31, 2022. Credit terms are 2/10,...

Accounting
1.2K views

Gladstorm Enterprises sells a product for $45 per unit. The variable cost is $15 per...