A loss made on the disposal of a fixed assets is debited to

Accounts - Principles of Accounts WAEC 2012

A loss made on the disposal of a fixed assets is debited to

  • sales account
  • purchases account
  • profit and loss account checkmark
  • capital account

The correct answer is: C

Explanation

Loss on sale; Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset

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