Homework Answers
Book value = Cost - Accumulated Depreciation
= 50,000 - 22,000 = 28,000
| A | Accumulated Depreciation | 22,000 | |
| Loss on disposal | 28,000 | ||
| Equipment | 50,000 | ||
| B | Cash | 25,000 | |
| Accumulated Depreciation | 22,000 | ||
| Loss on sale of equipment | 3,000 | ||
| Equipment | 50,000 | ||
| C | Cash | 31,000 | |
| Accumulated Depreciation | 22,000 | ||
| Gain on sale of equipment | 3,000 | ||
| Equipment | 50,000 |
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can anyone help me to solve p9.6
P9.6 (L03) Yount Towing has equipment that cost €50,000...
can anyone help me to solve p9.6 P9.6 (L03) Yount Towing has equipment that cost €50,000...
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.
P9.6 (LO 3) Yount Towing has equipment that cost €50,000 and that has been depreciated €22,000....
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
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord...
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord the journal entries for disposal of the equipment under the following assumptions. It was scrapped as having no value. Accumulated Depr Equipment 50,000 22,000 Book Value = It was sold for $31,000 cash. 3 It was sold for $18,000 cash. It was exchanged for $10,000 cash (paid) and similar "new" equipment with a fair market value of $35,000. The "new" equipment has commercial value....
can anyone help me to solve p9.5 2022 Instruc 2023 a. Prep 2024 b. Prep c....
can anyone help me to solve p9.5
2022 Instruc 2023 a. Prep 2024 b. Prep c. Prep P9.5 (LO 2, 3, 5) At December 31, 2019, Jimenez Enterprises reported the following as plant assets. € 3,000,000 14.400,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation equipment Total plant assets €26,500,000 12,100,000 40,000,000 5,000,000 P9.8 (LO intangibl. 1. Bue men €60 tion 2. On J Buel good 35,000,000 €52,400,000 During 2020, the following selected cash transactions Aprill Purchased land for...
can anyone help me to solve p9.5 2022 Instruc 2023 a. Prep 2024 b. Prep c....
can anyone help me to solve p9.5
2022 Instruc 2023 a. Prep 2024 b. Prep c. Prep P9.5 (LO 2, 3, 5) At December 31, 2019, Jimenez Enterprises reported the following as plant assets. € 3,000,000 14.400,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation equipment Total plant assets €26,500,000 12,100,000 40,000,000 5,000,000 P9.8 (LO intangibl. 1. Bue men €60 tion 2. On J Buel good 35,000,000 €52,400,000 During 2020, the following selected cash transactions Aprill Purchased land for...
P10-6B Nikhom's has equipment that cost $40,000 and that has been depreciated $26,000. Record the disposal...
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E9.9 (LO 3), AP Thieu Co. has delivery equipment that cost $50,000 and has been depreciated...
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...
Sarasota Co. has equipment that cost $75,700 and that has been depreciated $49,800. Record the disposal...
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)...
Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Prepare a tabular...
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. -...
and has been depreciated $24,000 E9-7, Journalize transactions related to disposals of plant assets. Wang Co. has deliv...
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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.
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
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord the journal entries for disposal of the equipment under the following assumptions. It was scrapped as having no value. Accumulated Depr Equipment 50,000 22,000 Book Value = It was sold for $31,000 cash. 3 It was sold for $18,000 cash. It was exchanged for $10,000 cash (paid) and similar "new" equipment with a fair market value of $35,000. The "new" equipment has commercial value....
can anyone help me to solve p9.5
2022 Instruc 2023 a. Prep 2024 b. Prep c. Prep P9.5 (LO 2, 3, 5) At December 31, 2019, Jimenez Enterprises reported the following as plant assets. € 3,000,000 14.400,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation equipment Total plant assets €26,500,000 12,100,000 40,000,000 5,000,000 P9.8 (LO intangibl. 1. Bue men €60 tion 2. On J Buel good 35,000,000 €52,400,000 During 2020, the following selected cash transactions Aprill Purchased land for...
can anyone help me to solve p9.5
2022 Instruc 2023 a. Prep 2024 b. Prep c. Prep P9.5 (LO 2, 3, 5) At December 31, 2019, Jimenez Enterprises reported the following as plant assets. € 3,000,000 14.400,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation equipment Total plant assets €26,500,000 12,100,000 40,000,000 5,000,000 P9.8 (LO intangibl. 1. Bue men €60 tion 2. On J Buel good 35,000,000 €52,400,000 During 2020, the following selected cash transactions Aprill Purchased land for...
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
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...
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)...
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. -...
and has been depreciated $24,000 E9-7, Journalize transactions related to disposals of plant assets. Wang Co. has delivery equipment that cost | $50,000 Instructions: Record entries for the disposal under the following assumptions. (a) It was scrapped as having no value. Account Title Account Title | Account Title Amount Amount Amount (b) It was sold for $37,000 Amount Amount Account Title Account Title Account Title Account Title Amount Amount (c) It was sold for $20,000 Account Title Account Title Account...
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