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Garcia Company owns equipment that cost $77,600, with accumulated depreciation of $41,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet

Garcia Company owns equipment that cost $77,600, with accumulated depreciation of $41,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet

FINANCIAL ACCOUNTING
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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Garcia Company owns equipment that cost $77,600, with accumulated depreciation of $41,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet < A в с Record the sale of equipment assuming Garcia sells the equipment for $47,600 cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit > View general journal
Transcribed Image Text:Garcia Company owns equipment that cost $77,600, with accumulated depreciation of $41,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet < A в с Record the sale of equipment assuming Garcia sells the equipment for $47,600 cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit > View general journal
Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet < A Record the sale of equipment assuming Garcia sells the equipment for $36,400 cash. Transaction 2 B Note: Enter debits before credits. Record entry View transaction list A C Journal entry worksheet B Transaction 3 Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (2) $36,400 cash, and (3) $31,300 cash. General Journal C Note: Enter debits before credits. Record entry Clear entry Record the sale of equipment assuming Garcia sells the equipment for $31,300 cash. Debit General Journal Clear entry Credit View general journal Debit Credit View general journal
Transcribed Image Text:Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment (2) $36,400 cash, and (3) $31,300 cash. View transaction list Journal entry worksheet < A Record the sale of equipment assuming Garcia sells the equipment for $36,400 cash. Transaction 2 B Note: Enter debits before credits. Record entry View transaction list A C Journal entry worksheet B Transaction 3 Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (2) $36,400 cash, and (3) $31,300 cash. General Journal C Note: Enter debits before credits. Record entry Clear entry Record the sale of equipment assuming Garcia sells the equipment for $31,300 cash. Debit General Journal Clear entry Credit View general journal Debit Credit View general journal
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