3. Write the entry if the company gives the asset to an employee. 6 stock
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For questions 2-4, use the following information. A company is disposing of an asset with a cost of
$74,000 and associated accumulated depreciation of $69,000.
2. Write the entry if the company trades the asset for a new asset with a cost of $82,000 and the
dealer provides a $7,000 trade-in.
3. Write the entry if the company gives the asset to an employee.
4.
Write the entry if the company sells the asset for $10,000.
hare. W
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