Concept explainers
Sale of Assets at Gain or Loss:
Sale of the assets means the asset has been disposed of which he have fetched a realizable value (sale value less selling expense). When Realizable value has been received and it is more than book value of the asset (cost of asset as deducted by
TheJournal entries for the sale of assets.
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ACCOUNTING PRINCIPLES 122 5/16 >C<
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