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13 March, 09:03

Equipment originally costing $100,000 has accumulated depreciation of $65,000. if it is sold for $40,000, the company should record:

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  1. 13 March, 12:44
    0
    Hi there

    What we need first is the book value of the equipment

    The book value is

    originally costing - accumulated depreciation

    100,000-65,000=35,000

    Since the sale price is 40000 and the book value is 35000 This result a gain of 5000 (40000-35000)

    Good luck!
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