Bramble Corporation owns machinery that cost $33,200 when purchased on January 1, 2023. Depreciation has been recorded at a rate of $4,980 per year, resulting in a balance in accumulated depreciation of $9.960 at December 31, 2024. The machinery is sold on September 1, 2025, for $21,720. (a) Prepare the journal entry to update depreciation for 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry) Account Titles and Explanation Date September 1, 2025 Debit Credit
Bramble Corporation owns machinery that cost $33,200 when purchased on January 1, 2023. Depreciation has been recorded at a rate of $4,980 per year, resulting in a balance in accumulated depreciation of $9.960 at December 31, 2024. The machinery is sold on September 1, 2025, for $21,720. (a) Prepare the journal entry to update depreciation for 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry) Account Titles and Explanation Date September 1, 2025 Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Don't give answer in image format
Transcribed Image Text:Bramble Corporation owns machinery that cost $33,200 when purchased on January 1, 2023. Depreciation has been recorded at a
rate of $4,980 per year, resulting in a balance in accumulated depreciation of $9.960 at December 31, 2024. The machinery is sold on
September 1, 2025, for $21,720.
(a)
Prepare the journal entry to update depreciation for 2025. (Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry
before credit entry)
Date
September
1, 2025
Account Titles and Explanation
Debit
Credit
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
Expert Answers to Latest Homework Questions
Q: Please Refer to the figure 4. At output level Q total cost is:
MC
ATC
Dollars
C
B
E
AVC
A
F
AFC…
Q: The Figure 1 suggests that:
Product
3
2
Variable input
Figure 1
when marginal product is zero, total…
Q: The total factory overhead for Norton Company is budgeted for the year at $300,000, divided into…
Q: What is the bond's coupon rate in percent on these financial accounting question?
Q: An annuity of 1, issued at age 35, is payable at the beginning of each year until age 65. The…
Q: John lives in New York and is a sole proprietor of his consulting firm. In 2023, his client is…
Q: In this data mining project, you will explore how people prefer to spend their
vacations whether…
Q: X Chrome - The Revolutionary Era Unit Test…
Q: You would like hold a protective put position in avalon corporation lock in a guaranteed
minimum…
Q: Read the following article:
Mother Tongue Maintenance Among North American Ethnic Groups Download…
Q: I really need help on this. Thanks
Q: The Vegas gambling company is expected to experience a 20% annual dividend growth rate for the next…
Q: In which of the experiments with a loop and a bar magnet shown below is an electric current induced…
Q: Huskey Mining Corporation issued bonds with a par value of $91,000 on January 1, 2023. The annual…
Q: An operations manager has narrowed down the search for a new factory to three locations. The fixed…
Q: Ann’s department at a local department store has tracked the sales of a product over the last ten…
Q: 10. A common-control device in a telephone
exchange is required to commence operation
within an…
Q: 9. In an automatic telegraph switching
system incoming messages are stored in a
queue until the…
Q: 8. A crossbar exchange is required to set up
5000 calls in the busy hour. The marker
holding times…
Q: 2. A group of 20 trunks was found to have
ten trunks engaged at 10 a.m., 15 at
10.10 a.m., 16 at…
Q: 12. A partially interconnected three-stage
network as shown in Figure 5.14 consists of
switches of…