On December 31, Strike Company Has Decided to Discard One

question 156

Multiple Choice

On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $215,000 with an accumulated depreciation of $185,000. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal.

• A) Accumulated Depreciation Dr. $215,000
• B) Loss on Disposal of Asset Dr. $185,000
• C) Equipment Cr. $215,000
• D) Gain on Disposal of Asset Cr. $30,000

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Definitions:

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