Homework Answers
| Cash | = | $ 15,000 | |
| Add: | Accumulated Depreciation | = | $ 31,000 |
| Less: | Cost of Machine | = | $ 46,000 |
| Gain or loss on Disposal of Machine | = | $ 0 | |
| Gain or loss on Disposal of Machine | = | Nil | |
| There is no gain or loss on disposal of machine | |||
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This ston: I PES 50131 -eor ersity A copy machine cost $46,000 when new and has...
copy machine cost $ 45 comma 000 when new and has accumulated depreciation of $ 44 comma 000. Suppose Print and Photo Ce...
copy machine cost $ 45 comma 000 when new and has accumulated depreciation of $ 44 comma 000. Suppose Print and Photo Center sold the machine for $ 1 comma 000. What is the result of this disposal​ transaction? A. Loss of $ 1 comma 000 B. Loss of $ 44 comma 000 C. Gain of $ 1 comma 000 D. No gain or loss
Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $91,400. Prepare...
Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $91,400. Prepare the entry to record the disposal of the milling machine on January 3 In each of the following Independent situations 1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Dlaz sold the machine for $17.200 cash. 3. Dlaz sold the machine for $34.800 cash. 4. Dlaz sold the machine for $40,200...
Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125.900 and has accumulated depreciat...
Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125.900 and has accumulated depreciation of $90,400. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return 2 Diaz sold the machine for $17,300 cash 3. Diaz sold the machine for $35,500 cash 4. Diaz sold the machine for...
8. The entry to record a write-off of an uncollectible account when using the direct write...
8. The entry to record a write-off of an uncollectible account when using the direct write off method involves a debit to Allowance for Bad Debts b. debit to Accounts Receivable C. credit to Cash d. debits to Bad Debts Expense 9. A copy machine costs $45,000 when new and has accumulated depreciation of $44,000. Suppose you company sold the machine for $1,000. What is the result of the disposal transaction? a. No gain no loss b. Loss of $1,000...
I think I am on the right track Check my work Diaz Company owns a machine...
I think I am on the right track
Check my work Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return 2. Diaz sold the machine for $35,000 cash. 3. Diaz sold the machine for $68,000 cash. 4. Diaz...
Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $126,200...
Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $90,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return 2 Diaz sold the machine for $16,300 cash. 3. Diaz sold the machine for $35.900 cash....
Diaz Company owns a milling machine that cost $127,000 and has accumulated depreciation of $93,400. Prepare...
Diaz Company owns a milling machine that cost $127,000 and has accumulated depreciation of $93,400. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $16,200 cash. Diaz sold the machine for $33,600 cash. Diaz sold the machine for $40,900 cash.
Diaz Company owns a milling machine that cost $125,200 and has accumulated depreciation of $91,900. Prepare...
Diaz Company owns a milling machine that cost $125,200 and has accumulated depreciation of $91,900. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $17,200 cash. Diaz sold the machine for $33,300 cash. Diaz sold the machine for $41,000 cash.
Diaz Company owns a milling machine that cost $126,700 and has accumulated depreciation of $92,300. Prepare...
Diaz Company owns a milling machine that cost $126,700 and has accumulated depreciation of $92,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $15,700 cash. Diaz sold the machine for $34,400 cash. Diaz sold the machine for $40,600 cash. Do the following:...
Diaz Company owns a milling machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare...
Diaz Company owns a milling machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. Diaz sold the machine for $35,000 cash. Diaz sold the machine for $68,000 cash. Diaz sold the machine for $80,000 cash. General Journal?...
Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $91,400. Prepare the entry to record the disposal of the milling machine on January 3 In each of the following Independent situations 1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Dlaz sold the machine for $17.200 cash. 3. Dlaz sold the machine for $34.800 cash. 4. Dlaz sold the machine for $40,200...
Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $125.900 and has accumulated depreciation of $90,400. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return 2 Diaz sold the machine for $17,300 cash 3. Diaz sold the machine for $35,500 cash 4. Diaz sold the machine for...
8. The entry to record a write-off of an uncollectible account when using the direct write off method involves a debit to Allowance for Bad Debts b. debit to Accounts Receivable C. credit to Cash d. debits to Bad Debts Expense 9. A copy machine costs $45,000 when new and has accumulated depreciation of $44,000. Suppose you company sold the machine for $1,000. What is the result of the disposal transaction? a. No gain no loss b. Loss of $1,000...
I think I am on the right track
Check my work Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of $182,000. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return 2. Diaz sold the machine for $35,000 cash. 3. Diaz sold the machine for $68,000 cash. 4. Diaz...
Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $126,200 and has accumulated depreciation of $90,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return 2 Diaz sold the machine for $16,300 cash. 3. Diaz sold the machine for $35.900 cash....
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