Foghorn Ltd

question 145

Multiple Choice

Foghorn Ltd. has an asset with an original cost of $16,000 and a carrying amount (net book value) today of $4,400. The Company no longer needs the asset and has decided to sell it today for $3,000 cash. The journal entry Foghorn will use to record the sale includes:

• A) a credit to the asset account for $4,400.
• B) a debit to the asset account for $4,400.
• C) a debit to accumulated amortization for $11,600.
• D) a credit to cash account for $3,000.

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Definitions:

Dental Implants

Artificial tooth roots, typically made of titanium, that are surgically placed into the jawbone to support replacement teeth or bridges.

Oral Health

The health of the mouth, teeth, gums, and related structures, important for overall health, well-being, and quality of life.

Disease Treatment

The process of managing and combating diseases or health conditions through medical care and interventions.

Occupational Therapists

Healthcare professionals who assist individuals in developing, recovering, improving, or maintaining the daily living and working skills of their patients.