Question

What will be ledger of goods purchased from x destroyed in accident any 10000

Answer 1

Answer:

All plant assets except land eventually wear out or become inadequate or obsolete and must be sold, retired, or traded for new assets. When disposing of a plant asset, a company must remove both the asset’s cost and accumulated depreciation from the accounts. Overall, then, all plant asset disposals have the following steps in common:

•Bring the asset’s depreciation up to date.

•Record the disposal by:

•Writing off the asset’s cost.

•Writing off the accumulated depreciation.