Hello Prof. Sargent. I would like to have a Professor like you and wonder if you could teach at Baruch. Please could you provide me were I can see additional videos about accumulated depreciation, I could see. Please provide the link .
Hello is very clear your video, but I'm confuse with the following, Can you please help me Auto cost $56,000 has accumulated depreciation of $50,000. The auto is sold for $8,500. What is the journal entry for this transaction? Auto $56,000 Cash $56.000 Depreciation Expense $50,000 Accum. Auto Depreciation $50,000 Debit Loss on Sale $2,500 Accumulated Depreciation $2,500
The carrying value is $56,000 - $50,000 = $6,000. So you gave up an asset of $6,000 and got an asset (cash) of $8,500. You are better off, right? That is a gain of $8,500 - $6,000 = $2,500.
The best video explaining and showing how depreciation works
This is the best video I've seen explaining this topic because you actually show how the data is entered on each financial statement. Thank you!
THANK YOU MAM ITS SO HEPLED BEFORE MY EXAM THANKU SO MUCH
Hello Prof. Sargent. I would like to have a Professor like you and wonder if you could teach at Baruch. Please could you provide me were I can see additional videos about accumulated depreciation, I could see. Please provide the link .
what is the difference between book value and salvage?
Book value is Cost less accumulated depreciation. Salvage value is what you expect to get for the asset, if anything, at the end of its useful life.
Hello is very clear your video, but I'm confuse with the following, Can you please help me
Auto cost $56,000 has accumulated depreciation of $50,000. The auto is sold for $8,500. What is the journal entry for this transaction?
Auto $56,000
Cash $56.000
Depreciation Expense $50,000
Accum. Auto Depreciation $50,000
Debit Loss on Sale $2,500
Accumulated Depreciation $2,500
The carrying value is $56,000 - $50,000 = $6,000. So you gave up an asset of $6,000 and got an asset (cash) of $8,500. You are better off, right? That is a gain of $8,500 - $6,000 = $2,500.