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Blue Spruce Co. has equipment that costs $79,200 and that has been depreciated $50,300. Record the disposal under the following assumptions. (a) It was scrapped
Blue Spruce Co. has equipment that costs $79,200 and that has been depreciated $50,300. Record the disposal under the following assumptions. (a) It was scrapped as having no value. (b) It was sold for $20,200. (c) It was sold for $36,400. No. Account Titles and Explanation Debit Credit
Can you show how you got these numbers, Thank you
No. Accounts Titles and Explanation | Debit | Credit |
a) Loss on Sale Equipment | 28900 | |
Accum. Depreciation- Equipment | 50300 | |
Equipment | 79200 | |
b) Cash | ||
Accum Depreciation Equipment | 50300 | |
c) | ||
Equipment | 79200 |
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