Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $90,900. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,000 cash. 3. Diaz sold the machine for $34,100 cash. 4. Diaz sold the machine for $40,100 cash. View transaction list Journal entry worksheet 3. 4. Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date General Journal Debit Credit
Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $90,900. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,000 cash. 3. Diaz sold the machine for $34,100 cash. 4. Diaz sold the machine for $40,100 cash. View transaction list Journal entry worksheet 3. 4. Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date General Journal Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 12SPB: DEPLETION: CALCULATING AND JOURNALIZING Mining Works Co. acquired a copper mine at a cost of...
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