Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also $43,640 on this delivery equipment. No salvage value is received. (b) (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640.
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also $43,640 on this delivery equipment. No salvage value is received. (b) (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter15: Preparing Adjusting Entries And A Trial Balance
Section15.3: Adjusting Accumulated Depreciation
Problem 1OYO
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