ecure https gen Weygandt, Accounting Principles, 12e Problem 10-6A Ceda Co, has

Question

ecure https gen Weygandt, Accounting Principles, 12e Problem 10-6A Ceda Co, has equipment that cost $80,900 and that has been depreciated $50,200. Record the disposal under the following assumptions (a) It was scrapped as having no value b) It was sold for $19,700 (e) It was sold for $37.200. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Erm No. Account Titles and Explanation Debit Credit edy b) LIST OF ACCOUNTS

Explanation / Answer

No. Accounting Titles and Explanation Debit Credit a) Loss on Disposition of Fixed Asset 30700 Accumulated Depreciation - Equipment 50200 Fixed Assets 80900 b) Cash 19700 Loss on Disposition of Fixed Assets 11000 Accumulated Depreciation - Equipment 50200 Fixed Assets - Equipment 80900 c) Cash 37200 Accumulated Depreciation - Equipment 50200 Gain on Disposition of Fixed Assets 6500 Fixed Assets - Equipment 80900

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