1) Accounting equation
Assets | = | Liabilities | + | stockholder's equity | |||
Cash | 1040 | Gain on sale of equipment (1040-560) | 480 | ||||
Equipment | -7360 | ||||||
Accumulated depreciation (7360-560) | -6800 |
As part of a major renovation at the beginning of the yearAtiase Pharmaceuticals, Inc. sold shelving...
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units ( recorded as Equipment ) that were 10 years old for $1,130 cash. The shelves originally cost $ 7,720 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $620 assets? liabilities? stockholders equity? Help Save & Exit Check my Required information (The following information applies to the questions displayed...
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,400 cash. The shelves originally cost $8,800 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $800. 1. Prepare the journal entry to record the sale of the shelving units. (If no entry is required for a transaction/event, select "No...
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $830 cash. The shelves originally cost $6,520 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $420. 1. Complete the table below, indicating the account, amount, and direction of the effect on disposal. Assume that depreciation has been recorded to the...
As part of a major renovation at the beginning of the year, Atlase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $980 cash. The shelves originally cost $7120 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $520. 2. Prepare the journal entry to record the sale of the shelving units. (If no entry is required for a transaction/event, select "No...
prepare the journal entry to record the sale of the shelving units Required information (The following information applies to the questions displayed below.) As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,040 cash. The shelves originally cost $7,360 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $560....
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,100 cash. The shelves originally cost $7,600 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $600. 2. Prepare the journal entry to record the sale of the shelving units. (If no entry is required for a transaction/event, select "No Journal...
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $950 cash. The shelves originally cost $7,000 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $500. .1. Complete the table below, indicating the account, amount, and direction of the effect on disposal. Assume that depreciation has been recorded to the...
As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,010 cash. The shelves originally cost $7,240 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $540. 1. Complete the table below, indicating the account, amount, and direction of the effect on disposal. Assume that depreciation has been recorded to the...
As part of a major renovation at the beginning of the year, Bonham's Bakery sold shelving units (store fixtures) that were 8 years old f $2,400 cash. The original cost of the shelves was $6,800 and they had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $1,100. Record the sale of the shelving units. (If no entry is required for a transaction/event, select "No journal entry required" in...
Required information M9-10 Reporting and Recording the Disposal of a Long-Lived Asset (Straight-Line Depreciation) (LO 9-5) [The following information applies to the questions displayed below) As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,100 cash. The shelves originally cost $7600 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value...