Question
Lighting Company sold an old machine on 30 June 2017, for $24 000 cash. The following data was available when the machine sold: Acquisition cost
Lighting Company sold an old machine on 30 June 2017, for $24 000 cash. The following data was available when the machine sold:
| Acquisition cost | $100 000 |
| Estimated residual value at time of acquisition | 7 000 |
| Accumulated depreciation on 30 June 2017, after adjustment | 82 000 |
When this transaction is recorded, it should include a:
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Accounting
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
9th edition
1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227
