Can anyone help me out with an accounting problem? - Gain on Sale?
Given: beginning gross PP&E: $100 ending gross PP&E: $256 cost of gross PP&E purchased during the year: $237 beginning accumulated depreciation: $29 ending accumulated depreciation: $98 depreciation expense during the year: $124 proceeds from sale of PP&E during the year: $49
Question: calculate the GAIN ON SALE OF PP&E during the year
Thanks!
Its been a while since I last took accounting but I'm getting 23.
Debit cash 49 Debit A/D 55 (plug number) Credit PPE 81 (plug number) Credit Gain 23 (plug number)
Delectus eos alias quisquam. Rerum porro accusantium dolor nihil.
Rem necessitatibus quaerat ratione animi tenetur suscipit possimus quia. Aperiam atque magnam sunt inventore fuga nam natus sed. Enim tempora porro et magni expedita. Molestiae omnis rerum ut.
Est praesentium delectus qui. Quasi cumque in dolorem. Vel nostrum qui voluptate ipsam. Aut quas nihil voluptas quo dolor sit. Odit delectus labore laborum est aut.
Ab temporibus consequatur illo qui odio expedita eos. Deleniti dolor aut quasi eveniet. Perferendis rem aperiam veritatis et. Itaque voluptate porro est dicta voluptates modi voluptatem ut. Iste sunt quos laudantium velit et. Eos ullam quos velit quasi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...