Question
Account/Description Debit Credit (a)
Dep. exp.-Office equipmentLoss on disposalGain on disposalAcc. Dep.-Office equipmentCashOffice equipment Office equipmentLoss on disposalGain on disposalAcc. Dep.-Office equipmentDep. exp.-Office equipmentCash (b)
Dep. exp.-Office equipmentAcc. Dep.-Office equipmentCashLoss on disposalOffice equipmentGain on disposal Dep. exp.-Office equipmentAcc. Dep.-Office equipmentLoss on disposalOffice equipmentGain on disposalCash Acc. Dep.-Office equipmentOffice equipmentLoss on disposalCashGain on disposalDep. exp.-Office equipment CashDep. exp.-Office equipmentGain on disposalOffice equipmentAcc. Dep.-Office equipmentLoss on disposal
Explanation / Answer
accumulated depreciation = 41509 + 4899 = 46,408
cash = 20,779
Loss on disposal = 72274 - ( 46408 + 20779 ) = 5087