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An organisation’s asset register shows a carrying value of $145,600. The non-current asset account in the nominal ledger shows a carrying value of $135,600. The difference could be due to a disposed asset not having been deducted from the asset register. Which one of the following could represent that asset?
A Asset with disposal proceeds of $15,000 and a profit on disposal of $5,000
B Asset with disposal proceeds of $15,000 and a carrying value of $5,000
C Asset with disposal proceeds of $15,000 and a loss on disposal of $5,000
D Asset with disposal proceeds of $5,000 and a carrying value of $5,000
i have a question why B is not correctThe carrying value of the asset sold must have been 145,600 – 135,600 = 10,000
In B, the carrying value is only 5,000.
You say what you think is the answer and I will tell you if you are correct 🙂
An organisation’s asset register shows a carrying amount of $145,600. The non-current asset account in
the nominal ledger shows a carrying amount of $135,600. The difference could be due to a disposed
asset not having been deducted from the asset register. please
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