Question
On September 1, 2018 company purchased an equipment with a purchase price of 155,000 TL. 3,500 TL is paid to assemble the machine and get
On September 1, 2018 company purchased an equipment with a purchase price of 155,000 TL. 3,500 TL is paid to assemble the machine and get it into operation. In addition, the Company paid for transportation of 2,750 TL. The repair and maintenance cost that will be charged while using is 1,800 TL. The salvage value is 12,000 with an estimated useful life of 5 years and the company uses straight line depreciation. On August 31, 2022 the company disposed the machinery with a selling price of 37,750 TL in cash.
Prepare the entry on the day of the disposal of the equipment.
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