Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 10, Problem 10QS
Disposal of assets
Garcia Co. owns equipment that cost $76,800, with
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Garcia Company owns equipment that cost $84,000, with accumulated depreciation of $44,400.
Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,400 cash,
(2) $39,600 cash, and (3) $34,500 cash.
View transaction list
Journal entry worksheet
< A
в с
Record the sale of equipment assuming Garcia sells the equipment for $52,400
cash.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit
Garcia Co. owns equipment that cost $76,800, with accumulated depreciation of $40,800.
Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash,
(2) $36,000 cash, and (3) $31,000 cash.
View transaction list
Journal entry worksheet
B C
>
Record the sale of equipment assuming Garcia sells the equipment for $47,000
cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1
9:04 AM
3/28/2022
Fn
Lock
Insert
Prt Sc
F5
F6
F10
F11
F12
F8
F9
F4
Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000.
Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,300 cash,
(2) $36,200 cash, and (3) $31,100 cash.
View transaction list
Journal entry worksheet
A
B C
>
Record the sale of equipment assuming Garcia sells the equipment for $47,300
cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1
Chapter 10 Solutions
Principles of Financial Accounting.
Ch. 10 - A company paid 326,000 for property that included...Ch. 10 - Prob. 2MCQCh. 10 - Prob. 3MCQCh. 10 - Prob. 4MCQCh. 10 - Prob. 5MCQCh. 10 - Prob. 1DQCh. 10 - Prob. 2DQCh. 10 - Prob. 3DQCh. 10 - Prob. 4DQCh. 10 - Prob. 5DQ
Ch. 10 - Why is the Modified Accelerated Cost Recovery...Ch. 10 - Prob. 7DQCh. 10 - Identify events that might lead to disposal of a...Ch. 10 - Prob. 9DQCh. 10 - Is the declining-balance method an acceptable way...Ch. 10 - Prob. 11DQCh. 10 - Prob. 12DQCh. 10 - Prob. 13DQCh. 10 - Prob. 14DQCh. 10 - Prob. 15DQCh. 10 - APPLE On its recent balance sheet in Appendix A,...Ch. 10 - Prob. 17DQCh. 10 - Prob. 18DQCh. 10 - Prob. 19DQCh. 10 - Prob. 20DQCh. 10 - Prob. 1QSCh. 10 - Prob. 2QSCh. 10 - Prob. 3QSCh. 10 - Prob. 4QSCh. 10 - Prob. 5QSCh. 10 - Prob. 6QSCh. 10 - On January 1, the Matthews Band pays 65,800 for...Ch. 10 - Prob. 8QSCh. 10 - Revenue and capital expenditures 1. Classify the...Ch. 10 - Disposal of assets Garcia Co. owns equipment that...Ch. 10 - Prob. 11QSCh. 10 - Prob. 12QSCh. 10 - Prob. 13QSCh. 10 - Prob. 14QSCh. 10 - Prob. 15QSCh. 10 - Caleb Co. owns a machine that had cost 42,400 with...Ch. 10 - Prob. 1ECh. 10 - Prob. 2ECh. 10 - Prob. 3ECh. 10 - Prob. 4ECh. 10 - Prob. 5ECh. 10 - Prob. 6ECh. 10 - NewTech purchases computer equipment for 154,000...Ch. 10 - Double-declining-balance depreciation In early...Ch. 10 - Straight-line depreciation and income effects P1...Ch. 10 - Double-declining-balance depreciation P1 Tory...Ch. 10 - Prob. 11ECh. 10 - Prob. 12ECh. 10 - Revising depreciation C2 Apex Fitness Club uses...Ch. 10 - Prob. 14ECh. 10 - Prob. 15ECh. 10 - Prob. 16ECh. 10 - Prob. 17ECh. 10 - Montana Mining Co. pays 3,721,000 for an ore...Ch. 10 - Milano Gallery purchases the copyright on a...Ch. 10 - Prob. 20ECh. 10 - Prob. 21ECh. 10 - Lok Co. reports net sales of 5,856,480 for Year 2...Ch. 10 - Prob. 23ECh. 10 - Prob. 24ECh. 10 - Prob. 1APCh. 10 - Prob. 2APCh. 10 - Prob. 3APCh. 10 - Prob. 4APCh. 10 - Yoshi Company completed the following transactions...Ch. 10 - Onslow Co. purchased a used machine for 178,000...Ch. 10 - On July 23 of the current year, Dakota Mining Co....Ch. 10 - On January 1, Falk Company signed a contract to...Ch. 10 - Nagy Company makes a lump-sum purchase of several...Ch. 10 - Prob. 2BPCh. 10 - Prob. 3BPCh. 10 - Prob. 4BPCh. 10 - Prob. 5BPCh. 10 - On January 1, Walker purchased a used machine for...Ch. 10 - Prob. 7BPCh. 10 - Prob. 8BPCh. 10 - Prob. 10SPCh. 10 - Prob. 1AACh. 10 - Prob. 2AACh. 10 - Prob. 3AACh. 10 - Prob. 1BTNCh. 10 - Prob. 5BTN
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Garcia Co. owns equipment that cost $84,800, with accumulated depreciation of $44,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $53,000 cash, (2) $40,000 cash, and (3) $34,900 cash. View transaction list Journal entry worksheet < A Record the sale of equipment assuming Garcia sells the equipment for $53,000 cash. в с Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journalarrow_forwardGarcia Company owns equipment that cost $79,600, with accumulated depreciation of $42,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $49,100 cash, (2) $37,400 cash, and (3) $32,300 cash. View transaction list Journal entry worksheet A C Record the sale of equipment assuming Garcia sells the equipment for $49,100 cash. Note: Enter debits before credits. Transaction General Journal Debit Credi 1 Record entry Clear entry View generaarrow_forwardGarcia Co. owns equipment that cost $80,000, with accumulated depreciation of $42,400. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $49,400 cash, (2) $37,600 cash, and (3) $32,500 cash. View transaction list Journal entry worksheet A B > Record the sale of equipment assuming Garcia sells the equipment for $32,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journalarrow_forward
- Garcia Company owns equipment that cost $83,600, with accumulated depreciation of $44,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,100 cash, (2) $39,400 cash, and (3) $34,300 cash. Journal entry worksheet 1. Record the sale of equipment assuming Garcia sells the equipment for $52,100 cash. 2. Record the sale of equipment assuming Garcia sells the equipment for $39,400 cash. 3. Record the sale of equipment assuming Garcia sells the equipment for $34,300 cash.arrow_forwardGarcia Co. owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet B C nces Record the sale of equipment assuming Garcia sells the equipment for $47,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 8:51 PM 3/27/2022 Insert Prt Sc F11 F12 Fn F8 F9 F10 Lock F6 F7 F2 F3 F4 F5 & 大arrow_forwardGarcia Company owns equipment that cost $78,400, with accumulated depreciation of $41,600. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $48,200 cash, (2) $36,800 cash, and (3) $31,700 cash.arrow_forward
- Garcla Co. owns equlipment that cost $77,600, with accumulated depreclation of $41.200. Record the sale of the equipment under the following three separate cases assuming Garcla sells the equipment for (1) $47,600 cash. (2) $36,400 cash, and (3) $31.,300 cash. Vlew transaction Ilat Journal entry worksheet A Record the sale of equipment assuming Garcia sells the equipment for $47,600 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry Vlew general journalarrow_forwardGarcla Co. owns equipment that cost $82,400, with accumulated depreclation of $43,600. Record the sale of the equipment under the following three separate cases assuming Garcla sells the equipment for (1) $51,200 cash, (2) $38,800 cash, and (3) $33,700 cash. Vlew transaction lot Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $51,200 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry Vlew general Journalarrow_forwardGarcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:arrow_forward
- Garcia Co. owns equipment that cost $78,400, with accumulated depreciation of $41,600. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $48,200 cash, (2) $36,800 cash, and (3) $31,700 cash. Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $48,200 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $36,800 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $31,700 cash. Note: Enter debits before…arrow_forwardGarcia Co. owns equipment that cost $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash.arrow_forwardGarcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list View journal entry worksheet No A ME PR Transaction 1 U Cash Accumulated depreciation Equipment Equipment Gain on sale of equipment CO General Journal 8 + + Debit 47,000 40,800 prt sc Credit 76,800 delete Ⓒarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
Chapter 6 Merchandise Inventory; Author: Vicki Stewart;https://www.youtube.com/watch?v=DnrcQLD2yKU;License: Standard YouTube License, CC-BY
Accounting for Merchandising Operations Recording Purchases of Merchandise; Author: Socrat Ghadban;https://www.youtube.com/watch?v=iQp5UoYpG20;License: Standard Youtube License