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Sale of EquipmentPrepare the journal entry for the following transactions: (1) Geysler Company sold some old equipment that initially cost $30,000 and had $25,000 of accumulated depreciation and received cash in the amount of $2,000. General Journal Description Debit Credit Cash Answer Answer Accumulated depreciation Answer Answer Answer Answer Answer Answer Answer Answer (2) Assume the same facts except Geysler received $8,000. General Journal Description Debit Credit Cash Answer Answer Answer Answer Answer Answer Answer Answer Equipment Answer Answer   PreviousSave AnswersNext

Sale of EquipmentPrepare the journal entry for the following transactions: (1) Geysler Company sold some old equipment that initially cost $30,000 and had $25,000 of accumulated depreciation and received cash in the amount of $2,000. General Journal Description Debit Credit Cash Answer Answer Accumulated depreciation Answer Answer Answer Answer Answer Answer Answer Answer (2) Assume the same facts except Geysler received $8,000. General Journal Description Debit Credit Cash Answer Answer Answer Answer Answer Answer Answer Answer Equipment Answer Answer   PreviousSave AnswersNext

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sale of Equipment
Prepare the journal entry for the following transactions:

(1) Geysler Company sold some old equipment that initially cost $30,000 and had $25,000 of accumulated depreciation and received cash in the amount of $2,000.

General Journal
Description Debit Credit
Cash Answer Answer
Accumulated depreciation Answer Answer
Answer Answer Answer
Answer Answer Answer

(2) Assume the same facts except Geysler received $8,000.

General Journal
Description Debit Credit
Cash Answer Answer
Answer Answer Answer
Answer Answer Answer
Equipment Answer Answer
 
PreviousSave AnswersNext
 
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