Question

Ch 08 Ex 8-16 Help Seve&Exit Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a muting machine thot cost $125,300 and has accumulated depreciation ot $32 900 Prepare the entry to record the disposal of the mling machine on Jansary 3 under each of the folowing independent stuations onts s, and it was not worth repainng Dise disposed of the machine, receving nothng in iethurm 3. Disz sold the machine for $32.400 cash 4. Diaz sold the machine for 541,400 cash Journal entry worksheet O Type here to search 舞曲

answer

Answer 1

Date	Title	Debit	Credit
1)	Accumulated depreciation	$ 92,900
	Loss on assets	$ 32,400
	Machine		$ 125,300
2)	Cash	$ 17,200
	Accumulated depreciation	$ 92,900
	Loss on disposal of assets	$ 15,200
	Machine		$ 125,300
	To record disposal of assets for $17,200)
3)	Cash	$ 32,400
	Accumulated depreciation	$ 92,900
	Machine		$ 125,300
	To record disposal of assets for $32,400)
4)	Cash	$ 41,400
	Accumulated depreciation	$ 92,900
	Machine		$ 125,300
	Gain on disposal of assets		$      9,000
	To record disposal of assets for $41,400)

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