1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Helen [10]
3 years ago
14

On January 2, Bering Co. disposes of a machine costing $44,000 with accumulated depreciation of $24,625. Prepare the entries to

record the disposal under each separate situation. The machine is sold for $18,250 cash. The machine is traded in for a new machine having a $60,200 cash price. A $25,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. The machine is traded in for a new machine having a $60,200 cash price. A $15,000 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance.
Mathematics
1 answer:
jeyben [28]3 years ago
3 0

Answer:

The accounting entry under each condition is given below.

The machine is sold for $18,250 cash

Debit Cash Asset                              $ 18,250

Debit accumulated depreciation     $ 24,625

Debit Loss on disposal                     $    1,125

Credit Machine Cost                         $ 44,000

The machine is traded in for a new machine having a $60,200 cash price. A $25,000 trade-in allowance is received, and the balance is paid in cash.

Debit New Machine Asset                $ 60,200

Debit accumulated depreciation      $ 24,625

Credit profit on disposal                    $    5,625

Credit Machine Cost                          $ 44,000

Credit Cash Asset (60,200-25,000) $ 35,200

The machine is traded in for a new machine having a $60,200 cash price. A $15,000 trade-in allowance is received,

Debit New Machine Asset                  $ 60,200

Debit accumulated depreciation        $ 24,625

Debit loss on disposal                         $   4,375

Credit Machine Cost                           $ 44,000

Credit Cash Asset (60,200-15,000)   $ 45,200

You might be interested in
The ratio to hearts to moons is | The ratio of moons to all shapes is. I need help due in 10 minutes
Alinara [238K]

Hearts to moon= 6:4

                         = 3:2 (simplified)

Moon to all shapes= 4:10

                               = 2:5 (simplified)

4 0
2 years ago
Read 2 more answers
What does 1+1 equal
uranmaximum [27]
One plus one equals to one
6 0
3 years ago
Read 2 more answers
Find DC (Image Below)
ioda

Answer:

79239729379249

Step-by-step explanation:

your aswer is 284389300 oo

6 0
3 years ago
Dana painted a wall in her bedroom that is 10.5 feet tall and 23.5 feet wide. She used exactly 3 quarts of paint to cover the wa
Alenkasestr [34]
Multiply 10.5 and 23.5 to get 246.75. Divide that by 3 and you have your answer, 82.25.
6 0
3 years ago
.
Sunny_sXe [5.5K]

The solutions of the equations are -1.3 and -7.7

Step-by-step explanation:

The quadratic formula of solving the quadratic equation

ax² + bx + c = 0, where a, b and c are constant is:

x=\frac{-b+-\sqrt{b^{2}-4ac}}{2a}

To solve the quadratic equation by using the quadratic formula

1. Find the values of a , b and c from the equation

2. Substitute the values of a , b and c in the quadratic formula

3. Find the two values of x

∵ x² + 9x + 10 = 0

∴ a = 1 , b = 9 and c = 10

∵ x=\frac{-9+\sqrt{(9)^{2}-4(1)(10)}}{2(1)}

∴ x=\frac{-9+\sqrt{81-40}}{2}

∴ x=\frac{-9+\sqrt{41}}{2}

∴ x = -1.3

∵ x=\frac{-9-\sqrt{(9)^{2}-4(1)(10)}}{2(1)}

∴ x=\frac{-9-\sqrt{81-40}}{2}

∴ x=\frac{-9-\sqrt{41}}{2}

∴ x = -7.7

The solutions of the equations are -1.3 and -7.7

Learn more:

You can learn more about quadratic equation in brainly.com/question/8196933

#LearnwithBrainly

6 0
3 years ago
Other questions:
  • Please answer I’ll give you points and I’ll give you thanks also brainlest to the best answer
    11·1 answer
  • Can someone please help
    13·1 answer
  • The cost of manufacturing a printer is $35. The manufacturer has a markup of 15% when selling to a retailer. The retailer has a
    13·2 answers
  • Y=X+1 is the equation for a straight line graph where does it cross the y-axis
    8·1 answer
  • A bicycle store costs ​$3500 per month to operate. The store pays an average of ​$75 per bike. The average selling price of each
    14·1 answer
  • True or false the quotient of two negative numbers is positive
    13·1 answer
  • I need halp on this question plzz and ty
    12·1 answer
  • Can someone plz help me with this one problem plz!!!
    11·1 answer
  • Introduction to Functions quiz answers?
    12·1 answer
  • Which subsets of the real numbers does the number 70 belong
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!