On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $208,831.00 with an accumulated depreciation of $187,947.90. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal. Select the correct answer. Accumulated Depreciation Dr. $208,831.00 Equipment Cr. $208,831.00 Gain on Disposal of Asset Cr. $20,883.10 Loss on Disposal of Asset Dr. $187,947.90

On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $208,831.00 with an accumulated depreciation of $187,947.90. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal. Select the correct answer. Accumulated Depreciation Dr. $208,831.00 Equipment Cr. $208,831.00 Gain on Disposal of Asset Cr. $20,883.10 Loss on Disposal of Asset Dr. $187,947.90

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Description: On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $208,831.00 with an accumulated depreciation of $187,947.90. Depreciation has been taken up to the end of the year. The following wi

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 3MCQ: When depreciation is recorded each period, what account is debited? a. Depreciation Expense b. Cash...

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On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $230,200 and has accumulated depreciation of $207,180.00. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? Oa. Accumulated Depreciation, debit, $230,200 Ob. Loss on Disposal of Asset, debit, $207,180.00 Oc. Gain on Disposal of Asset, credit, $23,020.00 Od. Equipment, credit, $230,200 Previous Next
On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $238,400 and has accumulated depreciation of $214,560. Depreciation has been recorded up to the end of the year. Which of the following will be included in the journal entry for the disposal? a. Loss on Disposal of Asset, debit, $214,560 b. Accumulated Depreciation, debit, $238,400 c. Gain on Disposal of Asset, credit, $23,840 d. Equipment, credit, $238,400
On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $206,400 and has accumulated depreciation of $185,760. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Equipment, credit, $206,400 b.Gain on Disposal of Asset, credit, $20,640 c.Accumulated Depreciation, debit, $206,400 d.Loss on Disposal of Asset, debit, $185,760
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