Uachine A $77 200$ 4,500 15years Machine B 21,000 2200 $63,007 (13 years 14,100

Question

Uachine A $77 200$ 4,500 15years Machine B 21,000 2200 $63,007 (13 years 14,100 (6 yoars) b. Machine BOn January 2, hs rachine suflered Irreparable damage from an acodent and was removec Imned ately by a salvage compaty at no aost Requirod 1. &2 Prepare the jpumal entris related to the disposal of Machne A and Bon January 2 df the current no antry Ik requtred for a trancsotdonevent, seleot "No Jounal Entry Requtred In tihe osou moieaured for s TP. When ro cash is recelved asset at the time of dsposal on dsposal, the loss on dsposal will equal the book value of the Journal entry worksheet 2 Reoord the dsposal of Machine A for $21,000 cash an Jaruary 2, 2014 Date General Jcurnel Debit Credit sour as

Explanation / Answer

Solution :

Journal Entries Date Particulars Debit Credit 2-Jan Cash Dr $21,000.00 Accumulated depreciation - Machine Dr $63,007.00                To Machine A $72,700.00                To Gain on sale of machine $11,307.00 (To record sale of machine A) 2-Jan Accumulated depreciation - Machine Dr $14,100.00 Loss on disposal of machine Dr $6,900.00                To Machine B $21,000.00 (To record disposal of machine B)

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.