Answer:
1.
Accumulated Depreciation $91,800
Loss on Disposal $33,700
Machine Account $125,500
2.
Cash $35,000
Accumulated Depreciation $91,800
Profit on Disposal $1,300
Machine Account $125,500
3.
Cash $68,000
Accumulated Depreciation $91,800
Profit on Disposal $34,300
Machine Account $125,500
4.
Cash $80,000
Accumulated Depreciation $91,800
Profit on Disposal $46,300
Machine Account $125,500
Explanation:
The situations were missing which were as follow:
1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
2. Diaz sold the machine for $35,000 cash.
3. Diaz sold the machine for $68,000 cash.
4. Diaz sold the machine for $80,000 cash.
Journal Entries are made according to these.
