Question
Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $92,800. Prepare the entry to record the disposal of the machine
Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $92,800. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,600 cash. 3. Diaz sold the machine for $32,200 cash. 4. Diaz sold the machine for $41,600 cash. View transaction list Journal entry worksheet 1 2 4 > Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits.
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Case 1 In case the machine is disposed off the net value of the machine 1250009280032...Get Instant Access to Expert-Tailored Solutions
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
10th edition
9780077515904, 007802529X, 77515900, 978-0078025297
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