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Bennie Razor Company has decided to sell one of its old manufacturing machines on June 30, 2014. The machine was purchased for 80,000 on January
Bennie Razor Company has decided to sell one of its old manufacturing machines on June 30, 2014.
The machine was purchased for €80,000 on January 1, 2010, and was depreciated on a straight-line basis for 10 years assuming no residual value.
The machine was purchased for €80,000 on January 1, 2010, and was depreciated on a straight-line basis for 10 years assuming no residual value.
- If the machine was sold for €26,000, what was the amount of the gain or loss recorded at the time of the sale and show the journal entries?
- If the machine was changed for €16,000 car, what was the amount of the gain or loss recorded at the time of the sale and show the journal entries?
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Cornerstones of Financial and Managerial Accounting
Authors: Rich Jones, Mowen, Hansen, Heitger
1st Edition
9780538751292, 324787359, 538751290, 978-0324787351
