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To record the sale of an old typewriter at its book value of $1,250, you would make a journal entry that debits cash or accounts receivable for $1,250 and credits the typewriter asset account for $1,250. This reflects the removal of the asset from the books at its recorded value. If there were any accumulated depreciation, that would also need to be considered in the journal entries.
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What is the Difference between cash book and ledger?
Day book is the book which we use to record day today record,but Ledger is a book in which we keep classified data
Whenever a fixed asset declines in book value what should we record to signify the event?
When a fixed asset declines in book value, we should record an impairment loss to reflect this decrease. This involves adjusting the asset's carrying amount on the balance sheet to its fair value, which is typically the recoverable amount. The impairment loss is recognized in the income statement, reducing the net income for that period. Proper documentation and justification for the impairment are essential for financial reporting and compliance.
What is Book value vs fair value?
Book value is the value of asset shown in financial statements while fair value is the value at which asset can be sold in market
Is Book value of common stock the same as the market value?
No. To get book value per share, you would divide book value by shares outstanding. Market value is whatever the current rate is on the stock exchange.
Record book for savings account?
Passbook
How do you make a typewriter on doodle?
book and mechanism
How do you make a typewriter on Doodle God?
book and mechanism
What is the Book Value of Pete Rose 1978 Record Breaker Baseball Cards 204?
About six dollars.
How do you make typewriter in Doodle God?
Typewriter is not an element in Doodle God, so you cant. But if you could, it would have something to do with paper You make it by combining book with mechanism
How do you make typewriter in Doodle God 2?
3rd episode mechanism + book
Open 9th class mathematics CBSE text book?
25(50)=1250
What is the value of a FN pump shotgun?
There is no record in Fjestad Blue book of FN making a pump shotgun. lcj
What would Bozo and His Rocket Ship story record be worth?
Looking at several websites it seems the value is $3.00 to $25.00 depending on the condition. This is a book and record combo.
Who ruled Italy from 1190 to 1250?
look n da book n find it urself
How do you record the merger of a subsidiary into its parent when the investment in the subsidiary exceeds the book value of the subsidiary?
Unfortunately you have to record it as a loss to the parent company. Or it will at least show as a loss on the financial statements.
How do you write a journal entry for a stolen company vehicle?
Assuming that the stolen company vehicle is not covered by an insurance. Determine the remaining book value. You don't record the depreciation but instead you have to write it off or simply record the remaining book value as loss. Then record the fixed asset account as credit. The loss is treated like an expense account.
What is the value of the Elvis rca 45 record 4041 worth?
This answer is specific to USA releases. This record has many different values. Most of the value is determined by the label of the record. There is the black label, dog on top, black label, dog on side, and orange labels. For more detail and determine what you may have in your collection, go to the link below. After you determine what you have, go to eBay to determine realized value. Or buy the book Presleyana VII to determine book values.
