Your answer has been saved. See score details after the due date. On June 30, 2022, the company sold office equipment for $21,500. The office equipment originally cost $34,000 and had accumulated depreciation to the date of disposal of $15,500. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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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Uses straight line depreciation

 

(b)
Enitenit
(a)
Your answer has been saved. See score details after the due date.
On June 30, 2022, the company sold office equipment for $21.500. The office equipment originally cost $34,000 and had
accumulated depreciation to the date of disposal of $15,500. (If no entry is required, select "No entry" for the account titles and enter 0
for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem. List all debit entries before credit entries.)
te
Account Titles and Explanation
Cost of Goods Sold
Cost of Goods Sold
Debit
21500
Credit
18500
Attempts: 1 of 1 used
Transcribed Image Text:(b) Enitenit (a) Your answer has been saved. See score details after the due date. On June 30, 2022, the company sold office equipment for $21.500. The office equipment originally cost $34,000 and had accumulated depreciation to the date of disposal of $15,500. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) te Account Titles and Explanation Cost of Goods Sold Cost of Goods Sold Debit 21500 Credit 18500 Attempts: 1 of 1 used
(b)
On September 30, 2022, the company sold delivery equipment for $12,500. The equipment was purchased on January 1, 2020,
for $28,500 and was estimated to have a $2,200 residual value at the end of its 5-year life. Depreciation on the delivery
equipment has been recorded through December 31, 2021. (If no entry is required, select "No entry" for the account titles and enter O
for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem. List all debit entries before credit entries.)
Date
Account Titles and Explanation
(To record depreciation expense)
(To record sale of equipment)
J
Attempts: 1 of 1 used
Debit
Cred
Transcribed Image Text:(b) On September 30, 2022, the company sold delivery equipment for $12,500. The equipment was purchased on January 1, 2020, for $28,500 and was estimated to have a $2,200 residual value at the end of its 5-year life. Depreciation on the delivery equipment has been recorded through December 31, 2021. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation (To record depreciation expense) (To record sale of equipment) J Attempts: 1 of 1 used Debit Cred
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