Question: ( b ) On September 3 0 , 2 0 2 4 , the company sold delivery equipment for $ 1 4 , 0 0

(

)

On September

30, 2024,

the company sold delivery equipment for $

14, 000 .

The equipment was purchased on January

1, 2022,

for $

31, 000

and was estimated to have a $

1, 400

residual value at the end of its

8 -

year life. Depreciation on the delivery equipment has been recorded through December

31, 2023 . (

If no entry is required, select

"

No entry" for the account titles and enter

0

for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.

)

Date

Account Titles and Explanation

Debit

Credit

(b) On September 30,2024, the company sold delivery equipment for $14,000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

i) On 30 September, 2017, the company sold delivery equipment for $9,000. The delivery equipment was purchased on January, 2015, for $21,000 and was estimated to have a $3,000 residual value at the...

"he Case of the Unidentified Industries - 2018 Exhibit 1 presents the balance sheets (in percentage form) and other selected financial data for 14 ms drawn from 14 different industries. While there...

Car - It financial information Production data and income statement ( unaudited ) Based on the 1 2 months ending September 3 0 , 2 0 1 8 Revenue and costs per unit Basic Deluxe Super Deluxe Frame...

Please assist me: Provide answers as well as explanation Q.49. Most suitable basis for apportioning insurance of machine would be: (a) Floor Area (b) Value of Machines (c) No. of Workers (d) No. of...

QUESTION 1 A Statement of Cash Flows is generated to show: a. How profits were generated during the period. b. The revenues the company has earned during the period. c. The inflow and outflow of cash...

Operating budgets: materials purchasing plan Masefield Dairy is preparing a third-quarter budget (July, August, and September) for its ice cream products. It produces five brands of ice cream, and...

QUESTION 1 Poof Co. had the following transaction: Purchase of land for cash, $90,000; sale of equipment for cash $30,000; issuance of bonds for cash, $100,000; payment of mortgage for cash, $15,000;...

Hi, I need to know the formulas that I should use to answer the question attached Thank you in advance Sophos, Inc. prepared a B/S at Dec. 31, 2004. Cash A/R Inv LT investments Land Plant and...

Kay Wing, Inc., prepared the following balance sheet at December 31, 2016. Kay Wing, Inc. Balance Sheet as of December 31, 2016 Cash................................................................$...

The following occurred during 2021. 1. $25,000 in cash and a $35,000 note payable were exchanged for land valued at $60,000. 2. Bonds payable (maturing 2025 ) in the amount of $20,000 were retired by...

The following code defines the BankAccount class in Python: class BankAccount: init_ (self): def self.balance = 0.00 def deposit (self, amount): self.balance += amount def withdraw (self, amount): if...

The figure below shows an electric heater placed midway between flask A and B. flask A is shinny on the outside and flask B is blackened on the outside. a) Name the process by which heat travels from...

The S&P 5 0 0 Index is currently at 5 1 0 0 . the expected growth rate in dividends the stocks in the index are forecasted to be lover the long term are expectedto be 5 % forever and the riskless...

a=2 b= 0 c= 2 d=0 e=0 f=9 g=3 5. Draw the Network diagram for the following project. Estimate the Earliest start time and Latest finish time for each activity. If every day it cost 200 rials for this...