I need help with this adjusting entry! The company had two locations and...
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Accounting
I need help with this adjusting entry!
The company had two locations and due to poor performance, they decided to discontinue operations related to the south location. The revenue for this location (which is included in the above trial balance) amounted to $83,000 and the expenses, $91,000 (purchases $50,000, salaries $26,000 and rent $15,000). The company disposed of all assets of the south location for a loss of $10,000 ($31,000 original cost with accumulated depreciation of $17,000).
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