Mason Builders purchased a crane for $85,000. The accumulated depreciation on the crane is $80,000. The company decides to discard the crane without receiving any proceeds from its disposal. What journal entry will Mason Builders record? a. Loss on disposal, $5,000. b. Gain on disposal, $5,000. c. No gain or loss because it was discarded. d. Loss of $85,000.
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What journal entry will Mason Builders record on these general accounting question?
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- What is the result of this disposal transaction?A copy machine cost $39,000 when new and has accumulated depreciation of $25,000. Suppose Print Center sold the machine for $14,000. What is the result of this disposal transaction? OA. Gain of $14,000 OB. Loss of $25,000 OC. Loss of $14,000 D. No gain or lossA copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and Photo Center sold the machine for $6,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $1,000 C. Loss of $1,000 D. Loss of $44,000
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