Current Attempt in Progress On December 31, 2022, Kingbird Inc owns a machine with a carrying amount of $806,000 The original cost and accumulated depreciation for the machine on this date are as follows Machine Accumulated depreciation $1,310,000 (a) 504,000 $806,000 in Depreciation is calculated at $84,000 per year on a straight line basis A set of independent situations follows For each situation, prepare the journal entry for Kingbird to record the transaction Ensure that depreciation entries are recorded to update the machine's carrying amount before its disposal Assume that Kingbird uses IFRS for financial statement purposes Your answer has been saved See score details after the due date On April 1, 2023, Kingbird sold the machine for $1,048,000 to Blossom Company (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts List all debit entries before credit entries )

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Current Attempt in Progress On December 31, 2022, Kingbird Inc. owns a machine with a carrying amount of $806,000. The original cost and accumulated depreciation

Current Attempt in Progress On December 31, 2022, Kingbird Inc. owns a machine with a carrying amount of $806,000. The original cost and accumulated depreciation for the machine on this date are as follows: Machine Accumulated depreciation $1,310,000 (a) 504,000 $806,000 in Depreciation is calculated at $84,000 per year on a straight-line basis. A set of independent situations follows. For each situation, prepare the journal entry for Kingbird to record the transaction. Ensure that depreciation entries are

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recorded to update the machine's carrying amount before its disposal. Assume that Kingbird uses IFRS for financial statement purposes. Your answer has been saved. See score details after the due date .

On April 1, 2023, Kingbird sold the machine for $1,048,000 to Blossom Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)