What Is the Journal Entry to Record the Disposal of the Asset

question 82

Multiple Choice

What is the journal entry to record the disposal of the asset?

• A) Debit Cash and credit Gain on Disposal for $95,000
• B) Debit Cash for $450,000, debit Accumulated Depreciation for $545,000, credit Gain on Disposal for $95,000, and credit Equipment for $900,000
• C) Debit Cash and credit Equipment for $545,000
• D) Debit Cash for $545,000, debit Accumulated Depreciation for $260,000, debit Loss on Disposal for $95,000, and credit Equipment for $900,000

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Definitions:

Benefits-sought

Benefits-sought describes the specific value or advantage consumers look for in a product or service, driving their purchasing decisions.

Descriptive Variables

Variables that are used to summarize or describe characteristics of a set of data.

Causal Variables

Factors that directly influence the outcome of a situation, where changes in these variables cause changes in other variables.

B2B Market

Business-to-Business market, where transactions are conducted between companies, rather than between companies and consumers.