Assume that Hardigan Corporations comparative balance sheet reported these amounts: Requirement 1. Assume that on January 2,

Question:

Assume that Hardigan Corporation€™s comparative reported these amounts:

Assume that Hardigan Corporation€™s comparative balance sheet reported these amounts:

Requirement
1. Assume that on January 2, 2012, Hardigan sold 1/2 of its plant and equipment
for $252,000 in cash. Journalize this transaction forHardigan.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...