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  • Asset Is Not Fully Depreciated: 1999 John Wiley & Sons, Inc. Weygandt/Principles 5e

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    Steven Sanderson
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    TT 10-H5

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    10 views1 page

    Asset Is Not Fully Depreciated: 1999 John Wiley & Sons, Inc. Weygandt/Principles 5e

    Uploaded by

    Steven Sanderson

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    PLANT ASSET DISPOSALS —RETIREMENTS

    Asset Is Not Fully Depreciated


    Asset originally purchased on 1/1/96 is discarded on 1/1/99 and
    there is no salvage value.
    Equipment Accumulated Depreciation-Equipment
    20,000 12/31/96 5,000
    12/31/97 5,000
    12/31/98 5,000
    Bal. 15,000
    Book Value = $5,000

    Entry:
    Accumulated Depreciation-Equipment 15,000
    Loss on Disposal 5,000
    Equipment 20,000

    Copyright 1999 John Wiley & Sons, Inc. Weygandt/Principles 5e T T 10–H

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