Blossom Company has delivery equipment that cost $47,500 and has been depreciated $23,800. Prepare a tabular summary to record the disposal under the following assumptions.

(a)

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It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets					=	Liabilities	+	Stockholders' Equity
												Retained Earnings
		Cash	+	Equipment	-	Accum. Depr. - Equip.	=		+	Common Stock	+	Revenue	-	Expense	-	Dividend
Bal.		$enter a balance amount		$enter a balance amount		$enter a balance amount				$enter a balance amount		$enter a balance amount		$enter a balance amount		$enter a balance amount
		enter a dollar amount		enter a dollar amount		enter a dollar amount				enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an option Gain on disposalLoss on disposal

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(b)

It was sold for $37,700. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets					=	Liabilities	+	Stockholders' Equity
												Retained Earnings
		Cash	+	Equipment	-	Accum. Depr. - Equip.	=		+	Common Stock	+	Revenue	-	Expense	-	Dividend
Bal.		$enter a balance amount		$enter a balance amount		$enter a balance amount				$enter a balance amount		$enter a balance amount		$enter a balance amount		$enter a balance amount
		enter a dollar amount		enter a dollar amount		enter a dollar amount				enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an option Loss on disposalGain on disposal