Company A purchases land on January 1, 2021 ftor $ 40,000 with a note payable. Other cost indudes $ 2500 in delinquent property taxes, and a $ 1500 survey fee. Genena Joumal Date Account Tites and Explanton De bit Credie
Company A purchases land on January 1, 2021 ftor $ 40,000 with a note payable. Other cost indudes $ 2500 in delinquent property taxes, and a $ 1500 survey fee. Genena Joumal Date Account Tites and Explanton De bit Credie
Chapter17: Property Transactions: §1231 And Recapture Provisions
Section: Chapter Questions
Problem 52P
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Transcribed Image Text:2-
The company depreciation for this year on equipment is $ 5000.
Genend Joum
Due
Account Tides and Eelanon
Debit
Cedit
3.
On April 1, Company A discards equipment with a cost of $ 15,000 and accumulated depreciation of $ 15.000.
General Jaum
O Aramak için buraya yazın
Transcribed Image Text:Name/Surname
Students ID
Company A purchases land on January 1, 2021 for $ 40,000 with a note payable. Other cost indludes $ 2500 in delinquent property taxes, and a $ 1500 survey fee.
Genen Jauma
Pape
Account Tites and Eelanten
De bit
Credit
2
The company depreciation tor this year on equpmer *$ S000.
Accnt te nd belir Aon
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