Question
Sunland Company has delivery equipment that cost $54,500and has been depreciated $24,800. tabular summary to record the disposal under the following assumptions. Your answer is
Sunland Company has delivery equipment that cost $54,500and has been depreciated $24,800.
tabular summary to record the disposal under the following assumptions.
Your answer is partially correct.Try again.
It was scrapped as having no value.(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
Assets=Liabilities+Stockholders' EquityRetained EarningsCash+Equipment-Accum. Depr. - Equip.=+Common Stock+Revenue-Expense-DividendBal.$
$
$
$
$
$
$
Loss on disposal
Gain on disposal
LINK TO TEXT
Your answer is partially correct.Try again.
It was sold for $36,100.(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
Assets=Liabilities+Stockholders' EquityRetained EarningsCash+Equipment-Accum. Depr. - Equip.=+Common Stock+Revenue-Expense-DividendBal.$
$
$
$
$
$
$
Loss on disposal
Gain on disposal
LINK TO TEXT
Your answer is partially correct.Try again.
It was sold for $19,200.(If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
Assets=Liabilities+Stockholders' EquityRetained EarningsCash+Equipment-Accum. Depr. - Equip.=+Common Stock+Revenue-Expense-DividendBal.$
$
$
$
$
$
$
Loss on disposal
Gain on disposal
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