Solved: If we have an asset lets say it is a building that we, Accounting Basics

+44 141 628 6080
[email protected]

If we have an asset lets say it is a building that we

Question - If we have an asset, lets say it is a building that we purchased for $100,000 to use in our business, under the course of use, we have accumulated depreciation of $25,000 and then we decide to sell the building and we receive $80,000 for the sale, what would need to happen in the journal entry and why?

Solution Preview :

Prepared by a verified Expert

Accounting Basics: If we have an asset lets say it is a building that we

Reference No:- TGS02723525

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Recently a large academic medical center determined that 6

recently a large academic medical center determined thatnbsp6nbspofnbsp19nbspemployees in a particular position

Q : Henton inc budgeted 294000 for overhead calculate the

question - henton inc budgeted 294000 for overhead based on a normal activity level of 7000 units and a standard of 3

Q : If four balls are selected randomly without being replaced

an urn contains seven blue balls and nine yellow balls if four balls are selected randomly without being replaced what

Q : If one chooses the monthly plan heshe is borrowing from

an insurance policy from geico has an up-front charge of 72210 for 6 months coverage or one can choose from several

Q : If we have an asset lets say it is a building that we

question - if we have an asset lets say it is a building that we purchased for 100000 to use in our business under the

Q : When do you use a one-tailed test when do you use a

when do you use a one-tailed test when do you use a two-tailed test how is spss used to perform the calculations needed

Q : Electronic meeting systems facilitate what two types of

1 electronic meeting systems facilitate what two types of processesa a groups technical skills and meeting planning

Q : Sookie corp had a margin of safety of 500000 last month

question - sookie corp had a margin of safety of 500000 last month with sales revenue of 1250000 and fixed costs of

Q : A write the claim mathematically and identify h subscript 0

a write the claim mathematically and identify h subscript 0 and h subscript ab find the criticalnbspvalues and identify

1938139

Questions
Asked

3,689

Active Tutors

1447830

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Is early food experiences can impact development

Early food experiences can impact development over several learning domains, including Social and Emotional Development, Language

Problem regarding the america youth and social media

Think about where you were the most and least engaged when reading a classmate's draft. Think about what captured your attention

Why you feel unpleasantly hot and sweaty

Working in the yard, you feel unpleasantly hot and sweaty when you come in the house, so you take a shower and begin to feel better.

Discuss social worker working with foster children

You are a social worker working with foster children. You are making a home visit to Katie, age nine, and her foster family.

How ensure that the youth understand what study involves

What is another way to say ". It is important to ensure that the youth understand what the study involves, what their participation entails

How teenagers in an impoverished urban area spend their time

The purpose is to examine the psychological factors affecting how teenagers in an impoverished urban area spend their time outside of school using:

Discuss children diagnosed with developmental disabilities

When Min decided to begin his supervised field experience, he applied at a company in his hometown that provided applied behavior analysis