Answer:
Explanation:
The journal entries are shown below:
1. Accumulated Depreciation A/c Dr $182,000
Loss on disposal of machine A/c Dr $68,000
To Machine A/c $250,000
(Being the machine disposed off)
2. Accumulated Depreciation A/c Dr $182,000
Loss on disposal of machine A/c Dr $33,000
Cash A/c Dr $35,000
To Machine A/c $250,000
(Being machine sold for $35,000)
3. Accumulated Depreciation A/c Dr $182,000
Cash A/c Dr $68,000
To Machine A/c $250,000
(Being machine sold for $68,000)
4. Accumulated Depreciation A/c Dr $182,000
Cash A/c Dr $80,000
To Machine A/c $250,000
To profit on disposal of machine A/c Dr $12,000
(Being machine sold for $80,000)
