Diaz Company owns a machine that cost $125,400 and has accumulated depreciation of $92,500. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $16,300 cash. 3. Diaz sold the machine for $32,900 cash. 4. Diaz sold the machine for $40,400 cash. View transaction list Journal entry worksheet 1 3 4 > Record the sale of the machine for $40,400 cash. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

Diaz Company owns a machine that cost $125,400 and has accumulated depreciation of $92,500. Prepare the entry to record the disposal of the machine on January 1 in each seperate 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 $16,300 cash. 3. Diaz sold the machine for $32,900 cash. 4. Diaz sold the machine for $40,400 cash. View transaction list Journal entry worksheet 1 3 4 > Record the sale of the machine for $40,400 cash. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

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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