What is credited in asset disposal account?

Accunulated depreciation

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Original cost of the asset being sold

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Sale proceeds of the assets disposed off

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Both (a) and (c)

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Solution

The correct option is B Both (a) and (c)
Asset disposal account is prepaed to ascertain profit or loss, when the asset is sold or dicarded. Asset disposal account is credited with :
1. Accumulated depreciation
2. Sale proceeds of the asset disposed off.

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Similar questions

When accumulated depreciation is transferred to asset disposal account, Which of the following is correct?

Gain or loss on disposal of an asset is the difference between the sale price of an asset and ___

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