Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sweet corporation traded a used truck (cost $20,00

Sweet Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer...

90.2K

Verified Solution

Question

Accounting

Sweet Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $4,092. Sweet also paid $620 in the transaction. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.

Account Titles Debit Credit

1.

2.

3.

4.

5.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A researcher believes that there is a positive relationship between the time spent in studying and...

Statistics
Q

JAVA program Create a class called Array Outside of the class, import the Scanner library Outside of main...

Programming
Q

Find 3 definitions of e. Prove they are equivalent (transitivity: a=b, b=c, and a=c) prove the 3...

Advance Math
Q

the the OH The reaction shown above is Endergonic Endothermic Exergonic None of the above...

Biology
Q

Steam locomotives have an efficiency of 19 0 and operate with a hot steam temperature...

Physics
Q

Current Attempt In Progress Allowances should not be made in the direct labor quantity standard...

Basic Math
Q

1 ok int rint erences Hui is currently considering investing in municipal bonds that earn...

Statistics
Q

Find the values of the six trigonometric functions for angle L 15 K 8

Algebra
Q

1 1 12 1 3 120 11 11 11 i leminin sonucunu bulunuz 11 2016...

Algebra
Q

Allocation of Package Purchase Price Tamock Company purchased a plant from one of...

Accounting
Q

QUESTION 13 You purchased $300 of stock Keep Solid Inc. (KS) in the beginning of...

Finance
Q

The Equipment were at an actual cost of $398,959. The invoice was approved for payment.

Accounting