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help please!! Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $94,400. Prepare the entry to record the disposal of the
help please!!
Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $94,400. 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. Dlaz sold the machine for $16,600 cash, 3. Diaz sold the machine for $31,500 cash, 4. Diaz sold the machine for $40,700 cash. Answer is not complete. No Credit 1 January 01 General Journal Accumulated depreciation Machine Loss on disposal of machine Machine Debit 94.400 31.500 125.900 00 OOOO 2 January 01 Cash Accumulated depreciation-Machine Loss on disposal of machine Machine 3 January 01 Cash Accumulated depreciation Machine Machine OOO 4 January 01 Cash Accumulated depreciation-Machine Gain on disposal of machine Machine OOO Step by Step Solution
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