Diaz Company owns a machine that cost $126,000 and has accumulated depreciation of $92,500. 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 $15,500 cash. 3. Diaz sold the machine for $33,500 cash. 4. Diaz sold the machine for $40,900 cash. Journal entry worksheet 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Diaz Company owns a machine that cost $126,000 and has accumulated depreciation of $92,500. 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 $15,500 cash. 3. Diaz sold the machine for $33,500 cash. 4. Diaz sold the machine for $40,900 cash. Journal entry worksheet Record the sale of the machine for $15,500 cash. Note: Enter debits before credits. Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,000 and has accumulated depreciation of $92,500. 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 $15,500 cash. 3. Diaz sold the machine for $33,500 cash. 4. Diaz sold the machine for $40,900 cash. Journal entry worksheet Note: Enter debits before credits. Exercise 8-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $126,000 and has accumulated depreciation of $92,500. 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 $15,500 cash. 3. Diaz sold the machine for $33,500 cash. 4. Diaz sold the machine for $40,900 cash. Journal entry worksheet
