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. (b) (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640.

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. (b) (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640.

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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