Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

Journal entryAdvancedPublished

Question · Gain or loss on disposal

Nolvane applies the cost model. It sells an investment property whose gross cost is 2,800,000 and accumulated depreciation 700,000. It collects 2,300,000 net of selling costs. Record the disposal entry.

Gross cost of the property
2,800,000
Accumulated depreciation
700,000
Net proceeds collected
2,300,000
Your answer
  1. Line 1

    Account Cash

  2. Line 2

    Account Accumulated depreciation

  3. Line 3

    Account Investment property (gross cost)

  4. Line 4

    Account Gain on disposal

← Back to the concept