Journal entry for sale of plant asset | Example

In this case, we can make the journal entry for the $200 gain on the sale of the equipment which is a plant asset as below: This journal entry will remove the $5,000 equipment as well as its $4,000 accumulated depreciation from the balance sheet as of January 1. At the same time, the $200 gain on the sale of plant assets will be recorded in the ...

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Property, Plant and Equipment (PP&E) | Formula + Calculator

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