On June 30, 2017, Adilide, Inc. discarded equipment costing $40,000. Accumulated Depreciation as of December 31, 2016,
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Question:
On June 30, 2017, Adilide, Inc. discarded equipment costing $40,000. Accumulated Depreciation as of December 31, 2016, was $25,000. Assume annual depreciation on the equipment is $2,500. Prepare the journal entries for the 2017 depreciation expense and for the disposal of the equipment.
Depreciation Expense—Equipment | | |
Accumulated Depreciation—Equipment | | |
Accumulated Depreciation** | | |
Loss on Disposal* | | |
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078025822
17th edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
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