None Prepare journal entries to record these transactions.(a)Blue Spruce Corp. retires its delivery equipment, which cost $44,000. Accumulated depreciation is also $44,000 on this deliveryequipment. No salvage value is received. (Credit account titles are automatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)Account Titles and ExplanationSave for LaterDebitCreditAttempts: 0 of 2 usedSubmit Answer

Step 1: Retirement of an Asset When Assets are disposed of or no longer in use, they are usually…

Answered: Prepare journal entries to record these…

Financial Accounting Intro Concepts Meth/Uses

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Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 19E

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Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Blossom Company retires its delivery equipment, which cost $40,000. Accumulated depreciation is also $40,000 on this delivery equipment. No salvage value is received. Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,000 instead of 40,000. (a) (b) No. Account Titles and Explanation Debit Credit (a) (b)
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) (b) (a) Oriole Company retires its delivery equipment, which cost $43,190. Accumulated depreciation is also $43,190 on this delivery equipment. No salvage value is received. No. Account Titles and Explanation (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,130 instead of 43,190. Debit Credit 1000
mn.9
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At December 31, 2020, Flint Company reported the following as plant assets. Land $ 3,770,000 Buildings $27,290,000 Less: Accumulated depreciation-buildings 12,170,000 15,120,000 Equipment 48,020,000 Less: Accumulated depreciation-equipment 4,550,000 43,470,000 Total plant assets $62,360,000 During 2021, the following selected cash transactions occurred. April 1 Purchased land for $2,190,000. Sold equipment that cost $900,000 when purchased on January 1, 2017. The equipment was sold for $540,000. Sold land purchased on June 1, 2011 for $1,540,000. The land cost $394,000. Purchased equipment for $2,530,000. Retired equipment that cost $491,000 when purchased on December 31, 2011. The company received no proceeds related to salvage. May 1 June 1 July 1 Dec. 31
Please! Do the last part D of this question!
Prepare journal entries to record these transactions. (a) Echo Company retires its delivery equipment, which cost $41000. Accumulated depreciation is also $41000 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), expcept that accumulated depreciation for the equipment is $37200 instead of $41000.
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Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Record entries for the disposal under the following assumptions. (Credit account titles are automatically Indented when amount Is Do not Indent manually. If no entry Is requlred, select "No Entry" for the account titles and enter O for the amounts.) (a) It was scrapped as having no value. (b) It was sold for $37,200. (c) It was sold for $19,900. No. Account Titles and Explanation Debit Credit (a)
Brief Exercise 9-07 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also $43,640 on this delivery equipment. No salvage value is received. (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640. (b) No. Account Titles and Explanation Debit Credit (a) (b)

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