Unformatted text preview: Gains and Losses on Sales
of Tangible Assets - Suppose equipment with an original cost of
$41,000 and accumulated depreciation of
$20,000 is sold for $27,000 cash - Thejournal entry for the disposal would be: Cash 27,000 Accumulated depreciation 20,000
Gain 6,000 ...
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- Fall '07
- Financial Accounting