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Disposal

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Disposal

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 2, 2021 at 9:30 am #622749
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    Joan has traded in a non-current asset The entries in her journal include
    Dr Non-current assets at cost
    Cr Asset disposal
    What aspect of the transaction is recorded by this entry?

    a. Cash proceeds from disposal of the old non-current asset
    b. Cash payment for purchase of the new non-current asset
    C. Transfer of the original cost of the old non-current asset on disposal
    d. Trade in value of the old non-current asset

    I think D. Please help.

    June 2, 2021 at 3:35 pm #622788
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54833
    • ☆☆☆☆☆

    Yes, D is correct 🙂

    June 2, 2021 at 11:04 pm #622853
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    Thank you sir.

    June 3, 2021 at 7:32 am #622881
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54833
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Disposal’ is closed to new replies.

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