The following are the transactions of morrell corporation.
a. morrell corporation disposed of two computers at the end of their useful lives. the computers had cost $4,600 and their accumulated depreciation was $4,600. no residual value was received.
b. assume the same information as (a), except that accumulated depreciation, updated to the date of disposal, was $3,200. prepare journal entries to record above transactions."
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Ответ:
a. Debit Accumulated depreciation: $4,600
Credit Machine asset: $4,600
b. Debit Accumulated depreciation: $3,200
Loss on asset disposal: $1,400
Credit Machine asset: $4,600
Explanation:
please see the excel with calculation in attachment
Ответ:
Hope this helped :)