On December 31, Strike Company has decided to discard one of its batting cages. The equipment...
On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $227,000 and has accumulated depreciation of $204,300. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal?
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On December 31, Strike Company has decided to discard one of its
batting cages. The equipment...
On December 31, Strike Company has decided to discard one of its batting cages. The initial...
On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $219,818.00 with an accumulated depreciation of $197,836.20. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal. Select the correct answer. Equipment Cr. $219,818.00 Loss on Disposal of Asset Dr. $197,836.20 Accumulated Depreciation Dr. $219,818.00 Gain on Disposal of Asset Cr. $21,981.80
On December 31, Strike Company sold one of its batting cages for $20,000. The equipment had...
On December 31, Strike Company sold one of its batting cages for $20,000. The equipment had an initial cost of $310,000 and had accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.loss of $20,000 b.gain of $20,000 c.loss of $30,000 d.gain of $30,000
On December 31, Strike Company sold one of its batting cages for $24,530. The equipment had...
On December 31, Strike Company sold one of its batting cages for $24,530. The equipment had an original cost of $245,300 and has accumulated depreciation of $220,770. Depreciation had been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?
On December 31, Strike Company traded in one of its batting cages for another one that...
On December 31, Strike Company traded in one of its batting cages for another one that has a cost of $580,930. Strike received a trade-in allowance of $33,480. The old equipment had an initial cost of $248,000 and had accumulated depreciation of $210,800. Depreciation has been recorded up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss on this transaction?
On December 31, Strike Company has decided to sell one of its batting cages. The initial...
On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $240,633.00 with an accumulated depreciation of $216,569.70. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $21,656.97. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $24,063.30 Loss of $2,406.33 Loss of $24,063.30 Gain of...
On December 31, Strike Company has decided to sell one of its batting cages. The initial...
On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $222,355.00 with an accumulated depreciation of $211,237.25. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $25,570.82. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $25,570.82 Cannot be determined Gain of $14,453.07 Loss of...
On December 31, Strike Company has decided to trade in one of its batting cages for...
On December 31, Strike Company has decided to trade in one of its batting cages for another one that has a cost of $588,186.00. The seller of the batting cage is willing to allow a trade in amount of $36,980.55. The initial cost of the old equipment was $273,930.00 with an accumulated depreciation of $232,840.50. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What is the amount of the gain...
On December 31, Strike Company sold one of its batting cages for $208,282. The equipment had...
On December 31, Strike Company sold one of its batting cages for $208,282. The equipment had an original cost of $197,867.90 and has accumulated depreciation of $23,952.43. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.gain of $13,538.33 b.cannot be determined c.no gain or loss d.loss of $13,538.33
On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had...
On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a. no gain or loss b. loss of $50,000 gain of $50,000 d. Cannot be determined.
On December 31, Strike Company sold one of its batting cages for $249,432. The equipment had...
On December 31, Strike Company sold one of its batting cages for $249,432. The equipment had an original cost of $293,450 and has accumulated depreciation of $44,018. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.no gain or loss b.loss of $(44,018) c.gain of $58,691 d.can't be determined with data provided
On December 31, Strike Company has decided to trade in one of its batting cages for another one that has a cost of $588,186.00. The seller of the batting cage is willing to allow a trade in amount of $36,980.55. The initial cost of the old equipment was $273,930.00 with an accumulated depreciation of $232,840.50. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What is the amount of the gain...
On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a. no gain or loss b. loss of $50,000 gain of $50,000 d. Cannot be determined.
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