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Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. (a)

Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. (a)

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 1PB: Consider the following situations and determine (1) which type of liability should be recognized...
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Aa.66.

 

(a) Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. (a) enue It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a m (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Bal. Your answer is partially correct. Assets Cash ained Earnings $ eTexthook and Modia Your answer is partially correct. i Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. i i Expense + Equipment $ $ 54600 It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negat (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 23500 -54600 $ Accum. Depr.- Equip. Dividend $ i -23500 i 23500 T Lia Loss on dispos
Transcribed Image Text:(a) Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. (a) enue It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a m (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Bal. Your answer is partially correct. Assets Cash ained Earnings $ eTexthook and Modia Your answer is partially correct. i Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. i i Expense + Equipment $ $ 54600 It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negat (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) 23500 -54600 $ Accum. Depr.- Equip. Dividend $ i -23500 i 23500 T Lia Loss on dispos
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