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On June 1, 2016 Axle Corporation sold a truck for $10,000 cash. The truck originally cost $45,000 and the accumulated depreciation as of May 31,
On June 1, 2016 Axle Corporation sold a truck for $10,000 cash. The truck originally cost $45,000 and the | |||
accumulated depreciation as of May 31, 2016 was 37,600. | |||
DATE | ACCOUNT | DEBIT | CREDIT |
On September 1, 2016 Smith Conveyor Corp sold a piece of factory machinery for $12,000. The machine originally | |||
cost $52,000 and had accumulated depreciation of $36,500 as of August 31, 2016. | |||
DATE | ACCOUNT | DEBIT | CREDIT |
On October 1, 2016 Axle Corporation scraped of a piece of machinery for no proceeds. The machine originally | |||
cost $20,000 and had accumulated depreciation of $18,000 as of September 30, 2016. | |||
On November 1, 2016 Smith Conveyor Corp scrapped a piece of machinery for no proceeds. The machine originally | |||
cost $22,000 and was fully depreciated. | |||
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