M9-9 Recording the Disposal of a Long-Lived Asset [LO 9-5]

The following are the transactions of Morrell Corporation.

1. Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $4,540 and their Accumulated Depreciation was $4,540. No residual value was received.
2. Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $3,080.

M9-9 Recording the Disposal of a Long-Lived Asset [LO 9-5] The following are the transactions of Morrell Corporation Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $4,540 and their Accumulated Depreciation was $4,540. No residual value was received Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $3,080 Prepare journal entries to record above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the disposal of computers that had cost $4,540 and their accumulated depreciation to the date of disposal was $4,540 Note: Enter debits before credits Transaction General Journal Debit Credit Accumulated Depreciation-Equipment 4,540 4,540 Record entry Clear entry View general journal