Assume the same information as in part (a), except that accumulated depreciation

Question

Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,640 instead of 50,810.

no. Account titles and explanation - debit / credit

(a)

(b)

(a) Carla Vista Co. retires its delivery equipment, which cost $50,810. Accumulated depreciation is also $50,810 on this delivery equipment. No salvage value is received. (b)

Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,640 instead of 50,810.

no. Account titles and explanation - debit / credit

(a)

(b)

Explanation / Answer

a) Journal entry :

b) Journal entry :

Date accounts & explanation debit credit Accumlated depreciation 50810     Delivery equipment 50810 (To record retirement of delivery equipment)

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