Multiple Choice
On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $310,000 with an accumulated depreciation of $260,000. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal.
A) Accumulated Depreciation Dr. $310,000
B) Loss on Disposal of Asset Dr. $260,000
C) Equipment Cr. $310,000
D) Gain on Disposal of Asset Cr. $50,000
Correct Answer:
Verified
Correct Answer:
Verified
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