question archive On November 1, the city of Reaganton sold a police vehicle for $10,000 cash that was originally purchased for $100,000
On November 1, the city of Reaganton sold a police vehicle for $10,000 cash that was originally purchased for $100,000
Subject:AccountingPrice: Bought3
On November 1, the city of Reaganton sold a police vehicle for $10,000 cash that was originally purchased for $100,000. The vehicle had been depreciated at the government-wide level and accumulated depreciation at the date of sale was 92,000. Record this sale (1) from the perspective of the governmental activities at the government-wide level, and (2) from the perspective of the General Fund.
