sejayadav2111
Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

How loss on sale of sports material is entered in Income and Expenditure Account? If sports material book value is $120 but sold at $50?​

Sagot :

Answer: $70

Explanation:

The amount of loss on sale of sports material that is entered in Income and Expenditure Account will be the difference between the sports material book value and the sales price. This will be:

= $120 - $50

= $70

Therefore, the loss on sale of sports material is $70.

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.