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Required information Problem 1 0 - 6 A ( Algo ) Disposal of plant assets LO C 1 , P 1 , P 2 [
Required information
Problem A Algo Disposal of plant assets LO C P P
The following information applies to the questions displayed below.
Onslow Company purchased a used machine for $ cash on January On January Onslow paid $ to wire
electricity to the machine. Onslow paid an additional $ on January to secure the machine for operation. The
machine will be used for six years and have a $ salvage value. Straightline depreciation is used. On December
at the end of its fifth year in operations, it is disposed of
roblem A Algo Part
Prepare journal entries to record depreciation of the machine at December
Journal entry worksheet
Record the first year yearend adjusting entry for the depreciation expense of
the used machine.
Note: Enter debits before credits.
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