Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord...
P9.6 (LO 3) Yount Towing has equipment that cost €50,000 and that has been depreciated €22,000. imu Instructions Record the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for €25,000. c. It was sold for €31,000. O D o m 000 b no ob bod
can anyone help me to solve p9.6 P9.6 (L03) Yount Towing has equipment that cost €50,000 and that has been depreciated €22.000. Instructions Record the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for €25,000. c. It was sold for €31,000.
can anyone help me to solve p9.6 P9.6 (L03) Yount Towing has equipment that cost €50,000 and that has been depreciated €22.000. Instructions Record the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for €25,000. c. It was sold for €31,000.
E9.9 (LO 3), AP Thieu Co. has delivery equipment that cost $50,000 and has been depreciated $24,000. Journalize transactions related to disposals of plant assets. Instructions Record entries for the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for $37,000. c. It was sold for $20,000. E9.12 (LO 1, 2, 3), AN Shown below are the T-accounts relating to equipment that was purchased for cash by a company on the first...
P10-6B Nikhom's has equipment that cost $40,000 and that has been depreciated $26,000. Record the disposal under the following assumptions. (a) It was scrapped as having no value. (b) It was sold for $29,000. (c) It was sold for $10,000. P10-7B
Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Prepare a tabular summary to record the disposal under the following assumptions. Your answer is partially correct. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parenthese of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities + Assets Common Stock: Cash Accum. Depr. -...
Sandhill Co.has delivery equipment that cost $48,800 and has been depreciated $23,000. Prepare a tabular summary to record the disposal under the following assumptions. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities + Stockholders' Equity Retained Earnings Revenue - Expense - Cash +...
Yount Company exchanged an old machine (cost $150,000 less $90,000 accumulated depreciation) plus $10,000 cash for a new machine. The old machine had a fair value of $54,000 (b) Lawson Company trades old equipment (cost $90,000 less $54,000 accumulated depreciation) for new equipment. Lawson paid $36,000 cash in the trade. The old equipment that was traded had a fair value of $54,000. The transaction has commercial substance. Prepare the entry to record the exchange of assets by Yount Company (Credit...
Sarasota Co. has equipment that cost $75,700 and that has been depreciated $49,800. Record the disposal under the following assumptions. (a) It was scrapped as having no value. (b) It was sold for $22,200. (c) It was sold for $27,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a)...
Exercise 7-7 Cullumber Company has delivery equipment that cost $53,100 and has been depreciated $23,800. Prepare a tabular summary to record the disposal under the following assumptions. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities + Stockholders' Equity Retained Earnings Revenue - Expense...