Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Get immediate and reliable answers to your questions from a community of experienced professionals on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

A company bought a computer for$1,500. Three years later, the computer was sold for $300.

Assuming a 5-year estimated service life and straight-line depreciation, which account(s) would be used to record the disposal of the assets? Select all that apps.

A. Gain/loss on sale of asset
B. Fixed Assets
C. Depreciation Expense
D. Sales Income
E. Accumulated depreciation

Sagot :

Tundexi

The accounts that will be used to record the disposal of the assets are Gain/loss on sale of asset and Sales Income

What is a disposal account?

A disposal account calculates the gain or loss account that appears in the income statement.

The disposal account records the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.

Hence, the account that will be used to record the disposal of the assets is Gain/loss on sale of asset and Sales Income

Read more about assets disposal

brainly.com/question/1357713

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.