On June 30, 2017, Adilide, Inc. discarded equipment costing $40,000. Accumulated Depreciation as of December 31, 2016,

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On June 30, 2017, Adilide, Inc. discarded equipment costing $40,000. Accumulated Depreciation as of December 31, 2016, was $25,000. Assume annual depreciation on the equipment is $2,500. Prepare the journal entries for the 2017 depreciation expense and for the disposal of the equipment.

Depreciation Expense—Equipment
Accumulated Depreciation—Equipment

Accumulated Depreciation**
Loss on Disposal*

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Accounting for Governmental and Nonprofit Entities

ISBN: 978-0078025822

17th edition

Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson

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Posted Date: Sep 13, 2019 09:30 AM

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On June 30, 2017, Adilide, Inc. discarded equipment costing $40,000. Accumulated Depreciation as of December 31, 2016,

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Journal entries for 2017 1 Net Book Value Original Cost Accumulated Deprec... View the full answer

Accounting for Governmental and Nonprofit Entities

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