9. AB Company sells machinery for $10,000. They originally purchased it for $15,000 and have depreciated $10,000. Complete the journal entry for the sale Account Debit Credit
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- Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garciasells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell theequipment for the following amounts:A. $47,000 cashB. $36,000 cashC. $31,000 cashGarcia Co. owns equipment that costs $77,300, with accumulated depreciation of $42,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $34,500 cash C. $27,000 cash If an amount box does not require an entry, leave it blankAlpha sells machine B for $50,000 cash on 30 April 20X4. Machine B cost $100,000 when it was purchased and has a carrying amount of $65,000 at the date of disposal. What are the journal entries to record the disposal of machine B? A Dr Accumulated depreciation $35,000 Dr Loss on disposal (SPL) $15,000 Dr Cash $50,000 Cr Non-current assets – cost $100,000 B Dr Accumulated depreciation $65,000 Dr Loss on disposal (SPL) $35,000 Cr Non-current assets – cost $100,000 C Dr Accumulated depreciation $35,000 Dr Cash $50,000 Cr Non-current assets $65,000 Cr Profit on disposal (SPL) $20,000 D Dr Non-current assets $65,000 Dr Accumulated depreciation $35,000 Cr Cash $50,000 Cr Profit on disposal (SPL) $50,000
- Florence's Flowers sells an old delivery van for $2,000. The van had an original cost of $20,000 and the balance in Accumulated Depreciation on the date of sale is $17,000. Assume depreciation is appropriately recorded up to the date of sale. The entry to record the sale would include aGarcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:1. Charlie Company acquired an adjacent plot to construct a new warehouse paying $301000 in cash. Attorney's fees paid were $1500, previous property taxes assumed were $13000. The company also paid $50,000 architect's fees for the construction of the new warehouse. Determine the cost of the land to be reported on the balance Sheet. 2. Merchandise with an invoice price of $6900 is purchased with terms of 1/10, n/30, FOB Destination. Transportation costs of $130 was paid by the appropriate party. What is the total amount of cash paid by the purchaser to acquire the merchandise in this scenario if payment is made within the discount period? 3. A generator machine was purchased on July 1, 2018 with a cost of $147000 and estimated salvage value of $7000, the generator machine is expected to have a useful operating life of 78000 hours. The machine will be used for routine work and is expected to be used for 3100 hours for 2018 and it is expected that for the year 2019 it will be driven twice…
- Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $44,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $33,500 cash C. $29,000 cash If an amount box does not require an entry, leave it blank. А. С. B.Martinez owns machinery that cost $87,000 with accumulated depreciation of $40,000. The company sells the machinery for cash of $42,000. The journal entry to record the sale would include: Multiple Choice A. A credit to Accumulated Depreciation of $40,000. B. A credit to Gain on Sale of $2,000. C. A credit to Machinery of $47,000. D. A debit to Cash of $42,000. E. A debit to Accumulated Depreciation of $47,000.Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $36,000 cash C. $31,000 cash
- Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense for 2019 if the units-of-production method were used ( Note: Round your answer to the nearest dollar)? a. $179,400 b. $184,000 c. $218,400 d. $224,000Steele Corp. purchases equipment for $25,000. Regarding the purchase, Steele recorded the following transactions: Paid shipping of $1,000 Paid installation fees of $2,000 Pays annual maintenance cost of $200 Received a 5% discount on $25,000 sales price Determine the acquisition cost of the equipment.Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040; land improvements are appraised at $58,890, and the building is appraised at $176,670. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Land Land improvements Building Totals Appraised Value 5 0 Percent of Total Appraised Value 0% Total Cost of Acquisition -Apportioned Cost Required 2 >
