10-17 Disposal of assets LO P2

Exercise 10-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $90,000. Prepare the entry to record the disposal of the machine on January 1 in each separate situation 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return 2. Diaz sold the machine for $17,200 cash. 3. Diaz sold the machine for $35,800 cash. 4. Diaz sold the machine for $41,100 cash View transaction list Journal entry worksheet 2 3 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits Date General Joumal Debit Credit January 01 Record entry Clear entry View general journal Exercise 10-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $90,00 Prepare the entry to record the disposal of the machine on January 1 in each separate situation 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the mac receiving nothing in return 2. Diaz sold the machine for $17,200 cash 3. Diaz sold the machine for $35,800 cash. 4. Diaz sold the machine for $41,100 cash. View transaction list Journal entry worksheet Record the sale of the machine for $17,200 cash. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general Journal Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $90,000 Prepare the entry to record the disposal of the machine on January 1 in each separate situation 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,200 cash 3. Diaz sold the machine for $35,800 cash. 4. Diaz sold the machine for $41,100 cash View transaction list Journal entry worksheet >