Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. equipment was purchased for $40,000, with accumula

Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000. Assuming the equipment...

90.2K

Verified Solution

Question

Accounting

Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000.

Assuming the equipment was sold for $14,200, journalize the entry to record the sale.

ACCOUNT DEBIT CREDIT
CASH 14,200.00
ACCUMULATION DEPRECIATION EQUIPMENT 24,000.00

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

1) How do cost of funds and taxes affect decisions made by investors and the firm?...

Physics
1.2K views

How SU (4) representation is calculated in Young's Tableaux?

Electrical Engineering
1.2K views

A 480 V, 50 Hz, Y-connected six-pole synchronous generator has a per-phase synchronous reactance of 1.0 Ω....

Physics
1.2K views

A monochromatic light of frequency v is incident on isolated metallic sphere of radius r...

Basic Math
1.2K views

t the correct choice that completes the sentence onjunction p q is true only when...

Accounting
1.2K views

Puget Sound Divers is a company that provides diving services such as underwater ship repairs...

Accounting
1.2K views

CMG's operates in an environment of steadily rising input prices. CMG actually uses the FIFO...

Accounting
1.2K views

In the ABC partnership (to which Daoud seeks admittance), the capital balances of Ahmad, Bahi,...

Accounting
1.2K views

Birch manufacturing is considering the addition of another product line to its offerings. Equipment needed...

Accounting
1.2K views

The basis of apportionment of joint costs to products is usually one of the following:...

Finance
1.2K views

Use the following for questions 7-9 Income Statement Year Balance Sheet as of December Ending...

Finance
1.2K views

Intro Consider the following information about a European call option: A B D Risk-free...