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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Disposal
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.
Yes, D is correct 🙂
Thank you sir.
You are welcome 🙂