(a) (b) Oriole Company retires its delivery equipment, which cost $53,990. Accumulated depreciation is also $53,990 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,080 instead of 53,990. No. Account Titles and Explanation (a) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Depreciation Expense Accumulated Depreciation-Equipment Equipment Debit 53990 16910 37080 Credit 53990 53990

(a) (b) Oriole Company retires its delivery equipment, which cost $53,990. Accumulated depreciation is also $53,990 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,080 instead of 53,990. No. Account Titles and Explanation (a) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Depreciation Expense Accumulated Depreciation-Equipment Equipment Debit 53990 16910 37080 Credit 53990 53990

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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