On september 1 2012 algernon company sold a truck for 15000, Ask an Expert

Accounting

On September 1, 2012 Algernon Company sold a truck for $15,000 cash. The truck was originally purchased for $40,000 and had an estimated life of 6 years. Algernon had recorded depreciation of $30,000 through the end of 2011 using the straight-line method. Algernon had to update the depreciation prior to sale. After updating the depreciation, how much was the total accumulated depreciation on the truck?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9985107

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