A gain is recorded on the sale of a plant asset when:
a. The cash received exceeds the asset’s book value
b. The asset’s book value is less than its historical cost
c. The asset’s book value is greater than the amount of cash received from the sale
d. The cash received exceeds the cash paid for the replacement
i choose a, but i am not sure, would you give me correct answer?
thank you help me!
about accounting analysis question~thank you!
2007-08-17 9:29 pm
回答 (2)
2007-08-17 11:27 pm
✔ 最佳答案
Disposal________________________________________
Dr Asset 100
Cr Acc. Dep. 30
________________________________________
Cr Cash 150
Under this case, the NBV is 70, if received money large the 70 (like the example 150, then have gain of disposal)
Disposal a/c
________________________________________
Dr Asset 100
Cr Acc. Dep. 30
Cr Cash 150
Dr gain on disposal 80
____ ____
180 180
=== ===
Answer is A
參考: own experience
2007-08-19 8:43 pm
A is the correct answer.
B has nothing related to the cash proceeds on disposal.
C indicates a loss instead.
D Gain is on the historical book value vs. cash and not related to the estimated cast of replacement.
2007-08-23 21:32:44 補充：
Only gave A is the correct answer but not explaining why the other options are wrong so as to enlighten the accounting knowledge possed by BOOG. I am an expert in this area, see my profile.
B has nothing related to the cash proceeds on disposal.
C indicates a loss instead.
D Gain is on the historical book value vs. cash and not related to the estimated cast of replacement.
2007-08-23 21:32:44 補充：
Only gave A is the correct answer but not explaining why the other options are wrong so as to enlighten the accounting knowledge possed by BOOG. I am an expert in this area, see my profile.
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