Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

27 points On December 31.2010. Cunha Enterprises sold a building for 5455,000 cash the building had originally coat 5800,000. Accumulated Depreciation on the building, updated

image text in transcribed
27 points On December 31.2010. Cunha Enterprises sold a building for 5455,000 cash the building had originally coat 5800,000. Accumulated Depreciation on the building, updated to the date of disposal, was $375,000 What is the journal entry to record the disposal of the asset? O Debit Cash for $455.000, debit Accumulated Depreciation for $375,000; credit Building for $800,000 credit Cain on Disposal for $30,000, Debit Cash for $455,000, debit Accumulated Depreciation for $315,000; debit Loss on Disposal $30,000; credit Building for $800,000 Debit Cash and credit Building for $455.000 Debit Cash and credit Gain on Disposal for $80,000 28 points A continentet account has a normat balance eta and causes total assets to credit, decrease debit, increase credit, increase debit, decrease 29 Yellowstone to tractor and trailer together for $1,000 cawn. The app and value of the actor and trade 500.000 a $40,000 respectvey Wut in the amount of the cost that should be assigned to the trailer O $21.000 $40.500 $32400 OC $40.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Auditing And Other Assurance Services

Authors: Ray Whittington, Kurt Pany

18th Edition

0077486277, 978-0077486273

More Books

Students also viewed these Accounting questions

Question

Define Administration?

Answered: 1 week ago

Question

=+ Does it speak to you in a personal way? Does it solve a problem?

Answered: 1 week ago

Question

=+Part 4 Write one unifying slogan that could work here and abroad.

Answered: 1 week ago