Current Attempt in Progress Monty Corp. has equipment that cost $76,500 and that has been depreciated $49,600. Record the disposal under the following assumptions. (a) It was discarded with no cash received. (b) It was sold for $22,100. (c) It was sold for $28,200. (Credit account titles are automatically indented when 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.) No. Account Titles and Explanation Debit Credit (a) (b)
Current Attempt in Progress Monty Corp. has equipment that cost $76,500 and that has been depreciated $49,600. Record the disposal under the following assumptions. (a) It was discarded with no cash received. (b) It was sold for $22,100. (c) It was sold for $28,200. (Credit account titles are automatically indented when 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.) No. Account Titles and Explanation Debit Credit (a) (b)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 4 of 9
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(To record depreciation to date of disposal)
June 30
(To record sale of computer)
Jan. 1
June 30
Dec. 31
(To record depreciation to date of disposal)
Dec. 31
(To record retirement of truck)
Transcribed Image Text:Question 5 of 9
-/ 1
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Current Attempt in Progress
Monty Corp. has equipment that cost $76,500 and that has been depreciated $49,600.
Record the disposal under the following assumptions.
(a)
It was discarded with no cash received.
It was sold for $22,100.
It was sold for $28,200.
(b)
(c)
(Credit account titles are automatically indented when 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.)
No. Account Titles and Explanation
Debit
Credit
(a)
(b)
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