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• Accumulated amortization
• Accumulated depletion
• Accumulated depreciationBuilding
• Accumulated depreciationMachine
• Amortization expense
• Building
• Cash
• Depletion expense
• Depreciation expenseBuilding
• Depreciation expenseMachine
• Gain on disposal of machine
• Gain on exchange of assets
• Gain on sale of machine
• Goodwill
• Impairment loss
• Land
• Land improvements
• Leasehold improvements
• Loss from fire
• Loss on disposal of machine
• Loss on sale of machine
• Machine
• Mineral deposit
• Ore mine
• Prepaid rent
• Rent expense
• Repairs expense
• Sales
• Sales discounts
• Sales returns and allowances
• Vehicles

Diaz Company owns a machine that cost $250,000 and has accumulated depreciation of $182,000. 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 $35,000 cash.
3. Diaz sold the machine for $68,000 cash.
4. Diaz sold the machine for $80,000 cash.

Exercise 8-17 (Static) Disposal of assets LO P2 Diaz Company owns a machine that cost $250,000 and has accumulated depreclation of $182,000. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repalrs and was not worth repairing. Dlaz disposed of the machine, recelving nothing in return. 2. Dlaz sold the machine for $35,000 cash. 3. Dlaz sold the machine for $68,000cash. 4. Dlaz sold the machine for $80,000cash. Journal entry worksheet (3) 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits

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