Question

Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following:
The machines were disposed of in the following ways:
a. Machine A: Sold on January 1 for $ 9,000 cash.
b. Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost.
Required:
1. Give the journal entry related to the disposal of Machine A at the beginning of the current year.
2. Give the journal entry related to the disposal of Machine B at the beginning of the current year.


$1.99
Sales0
Views94
Comments0
  • CreatedNovember 02, 2015
  • Files Included
Post your question
5000