Accounting 0452 · IGCSE · Accounting for depreciation and disposal of non-current assets

Accounting for depreciation and disposal of non-current assets — practice question

The original cost of a motor van was $11500, and it had accumulated depreciation of $9000. The van was then sold for $2750. How ought the profit or loss on disposal of the van to be recorded in the disposal account?

  • A$250 credit
  • B$250 debit
  • C$2500 credit
  • D$2500 debit

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