Equipment that cost $54,000 and on which $30,000 of accumulated depreciation has been recorded was disposed of for $27,000 cash. The entry to record this event would include a
credit to Accumulated Depreciation for $30,000
loss of $3,000
credit to the Equipment account for $9,000.
gain of $3,000
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What is the amount of the gain or loss on disposal of the plant asset? a. ... Equipment with a cost of $450,000 has an estimated salvage value of ... less accumulated depreciation of $5,000,000 ... The entry to record this even.
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