Assignment 3. (Homework) Banana Company purchased a printer machine by cash on January 312020 ,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Assignment 3. (Homework) Banana Company purchased a printer machine by cash on January 312020 , costing $3,200, transportation cost was $500, Import duties was $100. (salvage value =$800 ) Banana Company depreciates the machine using the Performance-Related Method (the asset estimated useful life is 3 years). Banana Company sold the printer machine for $2,675 on May 1 2021. Banana Company has a year-end of December 31 each year, and he used the historical cost model for the property, plant, and equipment. Required Show the joumal entries to record the depreciation charge and the disposal and complete the disposals ledger account. Calculate the profitioss arising on the disposal
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: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.