Solved: Perfect auto rentals sold one of its cars on january 1 2013, Accounting Basics

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Perfect auto rentals sold one of its cars on january 1 2013

Disposal of Fixed Asset

Perfect Auto Rentals sold one of its cars on January 1, 2013. Perfect had acquired the car on January 1, 2011, for $23,400. At acquisition Perfect assumed that the car would have an estimated life of 3 years and a residual value of $3,000. Assume that Perfect has recorded straight-line depreciation expense for 2011 and 2012.

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Accounting Basics: Perfect auto rentals sold one of its cars on january 1 2013

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Accounting Basics: Perfect auto rentals sold one of its cars on january 1 2013

Reference No:- TGS01363280

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