Question

Current Attempt in Progress Ivanhoe Company has delivery equipment that cos: 553.300 and has been depreciated $24500 Prepare a tabular summary to record the disposat under the following assumptions It was scrapped as having no value foransactions decrease in Assets Liabilities or Stockholders'Eguilty place a native sin for parentheses in front of the amount entered for the articular biliyor Equity item that was reduced) Assets Liabilities Cash Equipment Accum. Depr.. Equip Bal $ $ $ e Textbook and Media It was sold for $37,300. Of a transaction couses e decrease in Assets abilities or Stockholders'Equity place a negative sin for parentheses in front of the amount entered for the particular Asset, Liity or Equity item that was reduced) Assets Liabilities Cash Equipment Accum. Dept. - Equip $ $ $ eTextbook and Media It was sold for $19.600, faroroction causes a decrease in Assets, Liebeser Stockholders Equity place motive for parentheses) in front of the mount entered for the particular Asset Labilty or City item that was reduced) Assets Liabilities Cash Equipment Accum. Depr.- Equip Bal eTextbook and Media İL TID

Answer 1

Assets Cash Bal. + Equipment Accumulated Depr.Equipment + $ 53,300 - $ 24,500 + $ (53,300) - $ (24,500) Liabilities + Stockholders equity Retained earnings + Common stock + Revenue Expenses - Dividend + + $ 28,800 loss on disposal + Assets = Liabilities + Stockholders equity Retained earnings Cash + Equipment Accumulated Depr.Equipment + Common stock + Revenue Expenses Dividend + $ 53,300 $ 24,500 (24,500) + $37,300 + $ (53,300) - $ + $ 8,500 Gain on disposal Bal. + + Assets Liabilities + Stockholders equity Retained earnings + Common stock + Revenue Expenses Dividend Bal. Cash + Equipment + $ 53,300 $19,600 + $ (53,300 Accumulated Depr.Equipment $ 24,500 $ (24,500) + + + + $ 9,200 loss on disposal