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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A good rule of thumb for head counts is to count the children whenever A child or an adult crosses a threshold A meal or snack is served O A parent calls to check on a child The program day is halfway over
Answers (1)
A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 4% stock dividend on a date when the market price was $12 a share.
Answers (1)
Donna's philosophy as she coordinates the marketing efforts is to keep in mind the company's overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with the communications but also including the other
Answers (1)
Generally, the top management of a company would most benefit from information such as summary reports of transactions, detailed reports of problems, and operating plans and policies. True or false?
Answers (1)
A work-at-home opportunity is available in which you will receive 2 percent of the sales for customers you refer to the company. The cost of your ""franchise fee"" is $710.
Answers (1)
New Questions in Business
Becca is a business writer looking for information on public service jobs in California that don't require a college degree. She wants to use the keywords "engineering jobs NOT college degree" on an online resource to search for this data.
Answers (1)
Looking towards the future, what action plan should emily implement
Answers (1)
Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United States? Select the correct answer below: A. The U. S.
Answers (1)
A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm's average total cost is $10.
Answers (1)
If a Starbucks tall latte cost $3.20 in the United States and 3 euros in the Euro area, then purchasing-power parity implies the nominal exchange rate is how many euros per dollar? a ...
Answers (1)