Respuesta :
The journal entry to record the disposal of asset, Dr. accumulated depreciation a/c ($201,471.3) and credit equipment account ($ 223,857.00)
Calculation:
Initial cost of equipment = $223,857.00
Accumulated depreciation = $201,471.3
Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much more asset's value has been used is demonstrated by depreciation. It enables businesses to purchase assets over a predetermined amount of time and generate an income from those assets.
The initial cost of possession is greatly lowered because businesses do not have to fully account for them during the year that the goods are purchased. A company's profits can be significantly impacted by not accounting for depreciation. Long-term assets could also be depreciated by companies for tax and accounting reasons.
Depreciation was comparable to deterioration, which takes into account the increase in value of intangible assets over time.
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