Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $93,000. Prepare the entry
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Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $93,000. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $16,500 cash. Diaz sold the machine for $33,700 cash. Diaz sold the machine for $41,300 cash.
1 Record the disposal of the machine receiving nothing in return.
2 Record the sale of the machine for $16,500 cash.
3 Record the sale of the machine for $33,700 cash.
4 Record the sale of the machine for $41,300 cash.
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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