Diaz Company owns a machine that cost $126,600 and has accumulated depreciation of $94,200, Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,400 cash. 3. Diaz sold the machine for $32,400 cash. 4. Diaz sold the machine for $40,400 cash.
Diaz Company owns a machine that cost $126,600 and has accumulated depreciation of $94,200, Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,400 cash. 3. Diaz sold the machine for $32,400 cash. 4. Diaz sold the machine for $40,400 cash.
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 14PB: Garcia Co. owns equipment that costs $150,000, with accumulated depreciation of $65,000. Garcia...
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