Accounting for IGCSE & O level - Accounting Procedures (Section 22 - No. 14)

What accounts are likely to be involved in a journal entry to record the disposal of equipment?

Cash

Accumulated Depreciation

Equipment

Gain/Loss on Disposal

Explanation

All these accounts will be involved, as they affect the cash position of the company, the depreciated value of the asset, the cost of the asset and the gain or loss from the sale of the asset.

Accounting for IGCSE & O level - Accounting Procedures (Section 22 - No. 14)

Explanation

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