ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the company has recognized $40,000 in depreciation prior to selling the truck, which of the following is true regarding the entry to record the sale of the truck? A) Debit Loss $5,000. B) Credit Equipment $100,000. C) Credit Gain $5,000. D) Credit Accumulated Depreciation $40,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the company has ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
How would you make a good impression on a ceo as an it manager
Answers (2)
A service animals can be a cut snake miniature horse kangaroo none of the above
Answers (1)
Customer Value is -The cost of your product divided by the cost of the best competitor -The difference between all the benefits derived from a total product and all the costs of securing those benefits.
Answers (1)
The amount of the check is written in how many places?
Answers (1)
If the Federal Reserve sets the reserve rate to 2%, what is the resulting money multiplier?
Answers (1)
New Questions in Business
Explain, in your own words and step-by-step, what happens to wastewater once it reaches the treatment plant. (6 steps)
Answers (1)
The following information is from the 2017 records of Armand Music Shop: Accounts receivable, December 31, 2017 $43,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,500 (debit) Net credit sales for 2017 178,000 Accounts
Answers (1)
Green Glass recently pays dividends. Future dividends are projected at $2.5, $3.5, and $4.5 over the next three years, respectively. Beginning four years from now, the annual dividend is expected to grow at 4% annually forever.
Answers (1)
What are two tasks (out of several) commonly performed by operating systems?
Answers (1)
Question 2 1 pts How much is the fine for your thost offense for failure to keep insurance? $1000 $400 $200 $20
Answers (2)