4a-36. Computing and Recording Gain or Loss on Asset Sale The following information was provided...
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4a-36. Computing and Recording Gain or Loss on Asset Sale The following information was provided in the 2015 annual report of Saas Fee A.G. Note 10: Land, Buildings and Equipment May 28, 2014 80,132,394 57,852,770 22,279,624 June 3, 2015 60,121,353 24,646,418 The company's statement of cash flows, including the reconciliation of net income to cash from operations, provided the following information for the year ended June 3, 2015: .Depreciation expense was 3,174,956. . Purchases of property, plant and equipment were 5,559,183. . Proceeds from the sale of property, plant and equipment were 96,916 Required Using this information, prepare a journal entry to record the sale of property, plant and equipment D9 27
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