Question: Please answer the questions correctly and explain how you got to the correct answer. Thank you. Diaz Company owns a machine that cost $125,000 and


Please answer the questions correctly and explain how you got to the correct answer. Thank you.
Diaz Company owns a machine that cost $125,000 and has accumulated depreciation of $92,400. 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 $16,000 cash. 3. Diaz sold the machine for $32,600 cash. 4. Diaz sold the machine for $41,100 cash. Journal entry worksheet Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Comparative figures for Samsung, Apple, and Google follow. Required: 1. Compute total asset turnover for the most recent two years for Samsung using the data shown. 2. Is the change in Samsung's asset turnover favorable or unfavorable? 3. For the current year, is Samsung's asset turnover better or worse than the asset turnover for (a) Apple and (b) Google? Complete this question by entering your answers in the tabs below. Compute total asset turnover for the most recent two years for Samsung using the data shown. (Round your answers to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
