question: AN ERROR WAS FOUND ON DISPOSAL OF FIXED ASSETS.
AN OLD ITEM OF FURNITURE WAS SCRAPPED FOR $100
(COST $2000 AND ACCUMULATED DEPRECIATION $1800)
AND THE SCRAP VALUE WAS RECORDED AS CASH SALES
**個ENTRY 係點樣做???
DR ??
CR??
depreciation problem
2008-08-13 6:35 pm
回答 (2)
2008-08-14 4:55 am
✔ 最佳答案
The net asset value of the furniture at time of disposal is $2000 - $1,800 = $200It is now disposed or scrapped for $100. So, Dr. Cash $100 Cr. Disposal of Fixed Assets for $100.
To write off the net assets value of furniture to disposal account Dr. Disposal of Fixed Assets $200 Cr. Furniture $2,000 Dr. Provision for Depreciation $1,800
There is a deficit of $100 in the Disposal of Fixed Assets Account, we have to clear it off by Dr. Loss on disposal of Fixed Assets $100 Cr. Disposal of Fixed Assets $100.
2008-08-13 7:36 pm
CR sales 100
DR cost of good sold 200 ( the value of the funiture)
DR cost of good sold 200 ( the value of the funiture)
收錄日期: 2021-04-25 20:29:41
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