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Required information Skip to question [ The following information applies to the questions displayed below. ] During the current year, Yost Company disposed of three
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The following information applies to the questions displayed below.
During the current year, Yost Company disposed of three different assets. On January of the current year, prior to the disposal of the assets, the accounts reflected the following:
Asset Original Cost Residual Value Estimated Life Accumulated Depreciation straight line
Machine A $ $ years $ years
Machine B years years
Machine C years years
The machines were disposed of during the current year in the following ways:
Machine A: Sold on January for $ cash.
Machine B: Sold on December for $; received cash, $ and an $ interestbearing percent note receivable due at the end of months.
Machine C: On January this machine suffered irreparable damage from an accident. On January a salvage company removed the machine at no cost
Required:
Give all journal entries related to the disposal of each machine in the current year.
Machine A
Machine B
Machine CRequired information
The following information applies to the questions displayed below.
During the current year, Yost Company disposed of three different assets. On January of the current year, prior to
the disposal of the assets, the accounts reflected the following:
The machines were disposed of during the current year in the following ways:
a Machine A: Sold on January for $ cash.
b Machine B: Sold on December for $; received cash, $ and an $ interestbearing
percent note receivable due at the end of months.
c Machine C: On January this machine suffered irreparable damage from an accident. On January a salvage
company removed the machine at no cost
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