Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $91,700. Prepare the...

 

Transcribed Image Text:

Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $91,700. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,800 cash. 3. Diaz sold the machine for $34,100 cash. 4. Diaz sold the machine for $40,800 cash. Diaz Company owns a machine that cost $125,800 and has accumulated depreciation of $91,700. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,800 cash. 3. Diaz sold the machine for $34,100 cash. 4. Diaz sold the machine for $40,800 cash.

Answer rating: 100% (QA)

Answer 1 The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine receiving nothing in return To record the dispo... View the full answer