. Determine the financial statement effects of the sale of the ovens at the end of the second year. Jote: Amounts to be deducted should be indicated by a minus sign
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- Required information [The following information applies to the questions displayed below.] New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $279,500. The ovens originally cost $372,500, had an estimated service life of 10 years, had an estimated residual value of $22,500, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli. 2. Calculate the book value of the ovens at the end of the third year. Book valueRequired information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $520,000. The ovens originally cost $712,000, had an estimated service life of 10 years, had an estimated residual value of $42,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Determine the financial statement effects of the sale of the ovens at the end of the second year. Note: Amounts to be deducted should be indicated by a minus sign. Assets Balance Sheet Liabilities Stockholders' Equity Common Retained Stock Earnings Revenues Income Statement Expenses Net IncomeRequired information (The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $660,000. The ovens originally cost $866,000, had an estimated service life of 10 years, had an estimated residual value of $56,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal
- Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $640,000. The ovens originally cost $844,000, had an estimated service life of 10 years, had an estimated residual value of $54,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 3. What is the gain or loss on the sale of the ovens at the end of the second year?! Required information [The following information applies to the questions displayed below.] New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $259,000. The ovens originally cost $345,000, had an estimated service life of 10 years, had an estimated residual value of $20,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli. Required: 1. Calculate the balance in the accumulated depreciation account at the end of the third year. Accumulated depreciationNew Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, had an estimated residual value of $60,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Required: 1. Calculate the balance in the Accumulated Depreciation account at the end of the second year. 2. Calculate the book value of the ovens at the end of the second year.3. What is the gain or loss on the sale of the ovens at the end of the second year? 4. Record the sale of the ovens at the end of the second year.
- New Morning Bakery is in the process of closing its operations. It sold Its two-year-old bakery ovens to Great Harvest Bakery for $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, had an estimated residual value of $60,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) View transaction list Journal entry worksheet < Record the sale of ovens. Note: Enter debits before credits.New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $640,000. The ovens originally cost $844,000, had an estimated service life of 10 years, had an estimated residual value of $54,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 2. Calculate the book value of the ovens at the end of the second year. Book value ►► F10 888 FA FB * ES F7 吕口 # $ % 7 8 9 2 3 4 5 P W E R Y G H K L S F > C V N M command ommand D.New Morning Bakery is in the process of closing its operations. It sold its two-year- old bakery ovens to Great Harvest Bakery for $610,000. The ovens originally cost $ 811,000, had an estimated service life of 10 years, had an estimated residual value of $51,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. 4. Determine the financial statement effects of the sale of the ovens at the end of the second year.
- Required information [The following information applies to the questions displayed below.] New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $259,000. The ovens originally cost $345,000, had an estimated service life of 10 years, had an estimated residual value of $20,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli. 4. Record the sale of the ovens at the end of the third year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the disposal of equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalEast Mill Pizzeria is closing its business. It sold its two-year- old pizza ovens to Marco's Italian Restaurant for $600,000. Originally, East Mill acquired the pizza ovens at a cost of $800,000. The ovens had an estimated useful life of 10 years, an estimated residual value of $50,000, and were depreciated using straight-line depreciation. Complete the requirements below for East Mill Pizzeria. Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciationNew Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $640,000. The ovens originally cost $844,000, had an estimated service life of 10 years, had an estimated residual value of $54,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Required: 1. Calculate the balance in the accumulated depreciation account at the end df the second year. Accumulated depreciation 吕口。 F3 888 F4 4) F5 F6 FII @ %23 $ % & * 4 5 7 8 9 { E R Y U S D F J K C V B M alt nd command optic V 工