Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Diaz Company owns a machine that cost $126,500 and has accumulated depreciation of $94,600. Prepare the entry to record the disposal of the machine on

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Diaz Company owns a machine that cost $126,500 and has accumulated depreciation of $94,600. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $17.400 cash. 3. Diaz sold the machine for $31,900 cash. 4. Dlaz sold the machine for $41,300 cash. View transaction list Journal entry worksheet 2 3 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general Journal Journal entry worksheet Record the sale of the machine for $17,400 cash. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal Journal entry worksheet

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

Step: 3

blur-text-image

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

Principles of Cost Accounting

Authors: Edward J. Vanderbeck

16th edition

9781133712701, 1133187862, 1133712703, 978-1133187868

More Books

Students also viewed these Accounting questions