Motor gain for the sold its old office furniture for . the original cost and at the time of the sale, accumulated depreciation was . what is the effect of this transaction
its Accumulated Depreciation or the Asset or Liability Accumulated depreciation is recorded in a contra of asset account, meaning it has a the credit balance, which can reduces the gross amount of fixed asset. As the result, it has not recorded as an asset or the liability
You can also use the following basic declining balance and the formula to calculate the accumulated and depreciation for the years: Total of yearly depreciation = Depreciation factor x (1 / Lifespan of the asset) x Remaining of value. To calculate this value on has a monthly basis, divide the result by 12
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