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4. The balance sheets of Tully Corp. showed the following at December 31, 2014, and 2013: December 31, 2014 December 31, 2013 Machine, less accumulated
4.
| The balance sheets of Tully Corp. showed the following at December 31, 2014, and 2013: |
| December 31, 2014 | December 31, 2013 | |||||
| Machine, less accumulated depreciation of $84,600 at December 31, 2014, and $52,875 at December 31, 2013. | $ | 69,800 | $ | 101,525 |
| c.2 | Assume that the machine is sold on December 31, 2014, for $59,200. Record the journal entry for sale of the machine. |
| Event | General Journal | Debit | Credit |
| 1. | |||
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Managerial Accounting
Authors: Carl S Warren, James M Reeve, Jonathan Duchac
12th Edition
1133952402, 978-1133952404
