Jiaz Company owns a machine that cost $126,100 and has accumulated depreciation of $93,700. Prepare...
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Jiaz Company owns a machine that cost $126,100 and has accumulated depreciation of $93,700. Prepare the entry to record the disposal of the machine on January 1 in each separate 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 $32,400 cash. 4. Diaz sold the machine for $41,200 cash. Journal entry worksheet Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits
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Jiaz Company owns a machine that cost $126,100 and has accumulated depreciation of $93,700. Prepare the entry to record the disposal of the machine on January 1 in each separate 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 $32,400 cash. 4. Diaz sold the machine for $41,200 cash. Journal entry worksheet Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits 