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Bramble Company has an old factory machine that cost $59,750. The machine has accumulated depreciation of $33,460. Bramble has decided to sell the machine. (a)
Bramble Company has an old factory machine that cost $59,750. The machine has accumulated depreciation of $33,460. Bramble has decided to sell the machine. (a) (b) Prepare a tabular summary to record the sale of the machine for $29,875 cash. Prepare a tabular summary to record the sale of the machine for $17,925 cash. (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.) (a) Assets Liabilities Cash Equipment Accum. Depr.- Equip. Bal. $ $ $ UA $ + Common Stock Stockholders' Equity Retained Earnings Expense $ + Revenue $ $ $ Dividend $ $ V (b) Assets Liabilities Cash Equipment Accum. Depr. - Equip. Bal. $ $ $ $ + Common Stock Stockholders' Equity Retained Earnings Expense $ + Revenue $ $ $ Dividend $ $ V
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