Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $93,600. Prepare the entry to record the disposal of the machine on

image text in transcribed
image text in transcribed
image text in transcribed
Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $93,600. 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 $17,500 cash. 3. Diaz sold the machine for $32,100 cash. 4. Diaz sold the machine for $40,800 cash. Journal entry worksheet 34 Record the saie of the machine for $17,500 cash. Note: Enter debits before credits. Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $93,600. 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 $17,500 cash. 3. Diaz sold the machine for $32,100 cash. 4. Diaz sold the machine for $40,800 cash. Journal entry worksheet (1) 4 Record the sale of the machine for $32,100 cash. Note: Enter debits before credits. Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $93,600. 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, recelving nothing in return 2. Diaz sold the machine for $17,500 cash. 3. Diaz sold the machine for $32,100 cash. 4. Diaz sold the mochine for $40,800 cash. Journal entry worksheet (1) 3 Record the sale of the machine for $40,800 cash. Note: Enter debitu before creste

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Patrick R. Wheeler, Ulric J. Gelinas, Richard B. Dull, Dull Gelinas Wheeler

International 10th Edition

017035539X, 9780170355391

More Books

Students also viewed these Accounting questions

Question

Explain the process of MBO

Answered: 1 week ago