Dlaz Company owns a machine that cost $126,300 and has accumulated depreciation of $94,400. 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. Dlaz sold the machine for $17,000 cash. 3. Dlaz sold the machine for $31,900 cash. 4. Diaz sold the machine for $41,100 cash. O Answer is not complete. No Date General Journal Debit Credit Accumulated depreciationMachine Loss on disposal of machine Jun 01 94,400 O 31,900 O Vehicles 126,300 O 17,000 O 94,400 O Jun 01 Cash Accimulted idepreciat onMachine 14,900 O Loss on disposal of machine 126,300 O 31,900 O 3. Jan 01 Custi 94,400 O Aeaimulated dopreciaton Machine 126,300 O 41,100 O Jan 01 Casi < Prev 5 of 7 Next >

Dlaz Company owns a machine that cost $126,300 and has accumulated depreciation of $94,400. 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. Dlaz sold the machine for $17,000 cash. 3. Dlaz sold the machine for $31,900 cash. 4. Diaz sold the machine for $41,100 cash. O Answer is not complete. No Date General Journal Debit Credit Accumulated depreciationMachine Loss on disposal of machine Jun 01 94,400 O 31,900 O Vehicles 126,300 O 17,000 O 94,400 O Jun 01 Cash Accimulted idepreciat onMachine 14,900 O Loss on disposal of machine 126,300 O 31,900 O 3. Jan 01 Custi 94,400 O Aeaimulated dopreciaton Machine 126,300 O 41,100 O Jan 01 Casi < Prev 5 of 7 Next >

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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