Greetings Online Disposed of a Van That Cost $22,000 with Accumulated

question 28

Multiple Choice

Greetings Online disposed of a van that cost $22,000 with accumulated depreciation of $15,000.The journal entry would be to:

• A)debit Accumulated Depreciation $15,000; credit Van $15,000.
• B)debit Accumulated Depreciation $15,000; debit Depreciation Expense $7,000; credit Van $22,000.
• C)debit Loss Disposal of Plant Asset $7,000; debit Accumulated Depreciation $15,000; credit Van $22,000.
• D)None of these answers are correct.

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Definitions:

Methanol

Methanol, also known as wood alcohol, is a simple alcohol with the chemical formula CH3OH, used as a solvent, antifreeze, fuel, and as a denaturant for ethanol.

Aprotic Solvents

Solvents that lack an acidic hydrogen, meaning they cannot donate protons, and are typically used in organic synthesis.

3-Iodo-3-ethylpentane

An organic compound featuring an iodine atom on the third carbon of a pentane chain, which also has an ethyl group attached to the same carbon.

Sodium Methoxide

A strong base used in organic synthesis, prepared by reacting sodium with methanol.