Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $92,800. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $15,700 cash. Diaz sold the machine for $33,100 cash.
Diaz Company owns a machine that cost $125,900 and has accumulated depreciation of $92,800. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $15,700 cash. Diaz sold the machine for $33,100 cash.
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 41P
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Question
Diaz Company owns a machine that cost $125,900 and has
- The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
- Diaz sold the machine for $15,700 cash.
- Diaz sold the machine for $33,100 cash.
- Diaz sold the machine for $41,100 cash.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT