Record the gain or loss on the sale of the equipment.
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Piper's Pizza sold baking equipment for $27,000. The equipment was originally purchased for $74,000, and
Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No
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- Hot Stone Creamery sold ice cream equipment for $17,600. Hot Stone originally purchased the equipment for $94,000, and depreciation through the date of sale totaled $73,000. Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)Granite Stone Creamery sold ice cream equipment for $16,000. Granite Stone originally purchased the equipment for $90,000, and depreciation through the date of sale totaled $71,000. Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)Pond Scum Creamery sold ice cream equipment for $18,000. Pond Scum originally purchased the equipment for $95,000, and depreciation through the date of sale totaled $73,500. Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the sale of the equipment. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Clear entry Record entry View general journal
- Novak Manufacturing has old equipment that cost $51,000. The equipment has accumulated depreciation of $27,900. Novak has decided to sell the equipment. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) What entry would Novak make to record the sale of the equipment for $26,000 cash? (b) What entry would Novak make to record the sale of the equipment for $15,000 cash?The Bomb Pop Corporation sold ice cream equipment for $14,000. The equipment was originally purchased for $38,000, and depreciation through the date of sale totaled $25,000. 1. What was the gain or loss on the sale of the equipment? on sale 2. Record the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the sale of the equipment.Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) What entry would Ayayai make to record the sale of the machine for $32,280 cash? (b) What entry would Ayayai make to record the sale of the machine for $22,280 cash? No. Account Titles and Explanation Debit Credit (a) enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit…
- Florence's Flowers sells an old delivery van for $2,000. The van had an original cost of $20,000 and the balance in Accumulated Depreciation on the date of sale is $17,000. Assume depreciation is appropriately recorded up to the date of sale. The entry to record the sale would include aPrepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Blossom Company retires its delivery equipment, which cost $40,000. Accumulated depreciation is also $40,000 on this delivery equipment. No salvage value is received. Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,000 instead of 40,000. (a) (b) No. Account Titles and Explanation Debit Credit (a) (b)Bramble Corporation traded a used truck for a new truck. The used truck cost $25,400 and has accumulated depreciation of $21,590. The new truck is worth $44,450. Bramble also made a cash payment of $41,910. Prepare Bramble's entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit I Credit
- how Swifty Corporation traded a used truck (cost $21,200, accumulated depreciation $19,080 ) for a small computer with a fair value of $3,498. Swifty also paid $530 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Accumulated Depreciation - Trucks Loss on Disposal of Trucks cashSheffield Company traded a used truck for a new truck. The used truck cost $44,700 and has accumulated depreciation of $40,230. The new truck is worth $55,130. Sheffield also made a cash payment of $53,640. Prepare Sheffield's entry to record the exchange. (The exchange lacks commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit CreditGaston owns equipment that cost $27,500 with accumulated depreciation of $22,000. Gaston sells the equipment for $5,000. Which of the following would not be part of the journal entry to record the disposal of the equipment? Multiple Choice Debit Accumulated Depreciation $22,000. Credit Equipment $27,500. Debit Loss on Disposal of Equipment $500. Credit Gain on Disposal of Equipment $500. Debit Cash $5,000.