Which of the following is necessary when recording the disposal of a piece of equipment?

Question

Quizplus · Accepted Answer

All of these are necessary when recording the disposal of a piece of equipment. Updating the depreciation expense on the equipment to the date of sale, removing the equipment and related accumulated depreciation balances from the accounts, and recording any gain or loss on the disposal are all important steps to properly record the disposal of equipment in the accounting system.

Which of the Following Is Necessary When Recording the Disposal