Homework Answers
a)No Disposal value
| Asset | = | Liabilities | + | Stockholders equity | ||||||||||||
| Retained earning | ||||||||||||||||
| Cash | + | Equipment | - | Accumulated depreciation-equipment | = | + | Common stock | + | Revenue | - | Expense | - | Dividend | |||
| Balance | 47800 | 25000 | ||||||||||||||
| 0 | + | (47800) | - | (25000) | 0 | 0 | 0 | 22800 | 0 | Loss on disposal | ||||||
b)
| Asset | = | Liabilities | + | Stockholders equity | ||||||||||||
| Retained earning | ||||||||||||||||
| Cash | + | Equipment | - | Accumulated depreciation-equipment | = | + | Common stock | + | Revenue | - | Expense | - | Dividend | |||
| Balance | 47800 | 25000 | ||||||||||||||
| 37200 | + | (47800) | - | (25000) | 0 | 0 | 14400 | 0 | 0 | Gain on disposal | ||||||
c)
| Asset | = | Liabilities | + | Stockholders equity | ||||||||||||
| Retained earning | ||||||||||||||||
| Cash | + | Equipment | - | Accumulated depreciation-equipment | = | + | Common stock | + | Revenue | - | Expense | - | Dividend | |||
| Balance | 47800 | 25000 | ||||||||||||||
| 19900 | + | (47800) | - | (25000) | 0 | 0 | 2900 | 0 | Loss on disposal | |||||||
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