Question: please i need correct answer On January 2. 2023, Direct Shoes inc. disposed of a machine that cost $85.000 and had been depreciated $45,850 Present

please i need correct answer

Present the journal entries to record the disposal under each of the

On January 2. 2023, Direct Shoes inc. disposed of a machine that cost $85.000 and had been depreciated $45,850 Present the journal entries to record the disposal under each of the following unrelated assumptions a. The machine was sold for $33,500cash. c. The machine plus $69,000 was exchanged for a delivery van having a fair value of $105,000 b. The machine was traded in on new tools having a $119,000 cash price A$41,000 trade-in allowance was recelved, and the balance was paid in cash Since the tools have been customized, the fair values are not known

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!

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $85,000 and had been depreciated $45,850. Present the journal entries to record the disposal under each of the following...

i need anser within 10 mintues its urgent b. The machine was traded in on new tools having a $119,000 cash price. A$41,000 trade-in allowance balance was paid in cash. Since the tools have been...

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $87,000 and had been depreclated $47,050. Present the journal entries to record the disposal under each of the following...

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $98,000 and had been depreciated $53,650. Present the journal entries to record the disposal under each of the following...

please solve correctly Montalvo Bionics showed the following alphabetized unadjusted trial balance at April 30,2023 : Other information: a. All accounts have normal balances. b. The furniture was...

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $92,000 and had been depreciated $50,050. Present the journal entries to record the disposal under each of the following...

c. The machine plus $79,000 was exchanged for a delivery van having a fair value of $115,000 Journal entry worksheet Record the exchange of machine. Note: Enter debats before cred ts: d. The machine...

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $93,000 and had, been depreciated $50,150. Present the journal entries to record the disposal under each of the following...

On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $99,000 and had been depreciated $54,250. Present the journal entries to record the disposal under each of the following...

c. The machine plus $84,000 was exchanged for a delivery van having a fair value of $120,000. Journal entry worksheet Note; Enter debits before credies. On January 2, 2023, Direct Shoes Inc disposed...

A performer seated on a trapeze is swinging back and forth with a period of 8.85 s. If she stands up, thus raising the center of mass of the trapeze + performer system by 35.0cm, what will be the new...

Classify the benefits paid or provided by employers below according to the following key: T for Taxable Benefit NT for Non-taxable Benefit 1. Income tax preparation for all employees. 2. A 20%...

Andy's annual income is $ 5 7 , 0 0 0 and Jace's annual income is $ 3 7 , 0 0 0 . Calculate the relative change to compare Andy's to Jace's annual income. Explain your answer using a meaningful...

You receive a request, but pass it on to a specialist in another department. This shows that you 1 ) would be a good manager 2 ) do not have the knowledge or authority to process the request 3 ) want...

3. Should managers inform employees that their Web behavior is being monitored? Or should managers monitor secretly? Why or why not? The Internet has become an extremely valuable business tool, but...

7-8 Your company supplies ceramic floor tiles to Leroy Merlin, Bricorama, and other home improvement stores in France. You have been asked to start using radio frequency identification tags on each...

7-6 Does anyone own the Internet? Discuss how the Internet is currently governed and consider whether countries should be able to impose its own rules on the Internet within their own borders.