Connect https com/flow Yahool Outdoor Wor. 8-& Circuit n Part 02-Chapters 07-11

Question

Connect https com/flow Yahool Outdoor Wor. 8-& Circuit n Part 02-Chapters 07-11 6 Help Save& Exit Submit Check my work Garcia Co. owns equipment that cost $77600, with accumulated depreciation of $41,200. Garcia sells the equipment for cash Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for () $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash View transaction list Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $47,600 cash. Note: Enter debits before credts 888 ra

Explanation / Answer

Answer

1.

Bank A/c (Dr.) 47,600                     

Accumulated Depreciation A/c (Dr.)   41,200

Equipment A/c (Cr.) 77,600

Profit and loss A/c (Cr.) 11,200

2.

Bank A/c (Dr.) 36,400                     

Accumulated Depreciation A/c (Dr.)   41200

Equipment A/c (Cr.) 77600

3.

Bank A/c (Dr.) 31,300                     

Accumulated Depreciation A/c (Dr.)   41,200

Profit and loss A/c (Dr.) 5,100

Equipment A/c (Cr.) 77,600

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