Multiple Choice
A company sold office furniture costing $16,500 with accumulated depreciation of $14,000 for $1,800 cash.The entry to record the sale would include
A) a loss for $700.
B) an increase in accumulated depreciation for $14,000.
C) a decrease in office furniture for $2,500.
D) a decrease in cash for $1,800.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: A company made some expensive repairs to
Q15: A company acquired a truck for $79,000
Q35: Expenditures that add to the utility of
Q45: Amortization refers to the systematic transfer of
Q46: The amount of depreciation expense for the
Q47: Salvage value has a similar meaning as<br>A)residual
Q48: A machine with a useful life of
Q53: Physical depreciation occurs when a fixed asset
Q54: The cost of a patent should be
Q91: A company purchased a photocopy machine for