On June 15, 2013, Ideal Furniture discarded equipment that had a cost of $ 10,000 and was fully depreciated. Journalize the disposal of the equipment.
Answer to relevant QuestionsOn March 31, 2013, Alternative Landscapes discarded equipment that had a cost of $ 20,000. Accumulated Depreciation as of December 31, 2012, was $ 18,000. Assume annual depreciation on the equipment is $ 2,000. Journalize ...TMC Advertising paid $ 170,000 to acquire Seacoast Report, a weekly advertising paper. At the time of the acquisition, Seacoast Report’s balance sheet reported total assets of $ 130,000 and liabilities of $ 70,000. The ...Everyday Hardware Consultants purchased a building for $ 540,000 and depreciated it on a straight-line basis over a 40-year period. The estimated residual value is $ 96,000. After using the building for 15 years, Everyday ...Safety Trucking Corporation uses the units-of-production depreciation method because units-of-production best measures wear and tear on the trucks. Consider these facts about one Mack truck in the company’s fleet. When ...Hilda Carr Associates surveys American eating habits. The company’s accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each asset. During ...
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