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Nataliya [291]
4 years ago
12

A customer buys a municipal bond in the secondary market at 96 that has 4 years to maturity. Two years later, the customer sells

the bond at 99. The tax consequences of this investment are:
Business
1 answer:
Stolb23 [73]4 years ago
3 0

the correct answer will there in the book left page

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Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record
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Answer:

Please see explanation

Explanation:

1.                                                                  Debit               Credit

Accumulated depreciation                      $92,600

Loss on disposal of machine                   $34,000

Machine                                                                                $126,600

2.

Cash                                                          $17,500

Accumulated depreciation                      $92,600

Loss on disposal of machine                   $16,500

Machine                                                                                $126,600

3.

Cash                                                          $34,000

Accumulated depreciation                      $92,600

Machine                                                                                $126,600

4.

Cash                                                          $40,900

Accumulated depreciation                      $92,600

Machine                                                                                $126,600

Gain on disposal of machine                                               $6,900

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