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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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