In 2022, Cheyenne Corp. has plant equipment that originally cost $165000 and has accumulated depreciation of $50000. A n

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In 2022 Cheyenne Corp Has Plant Equipment That Originally Cost 165000 And Has Accumulated Depreciation Of 50000 A N 1 (48.52 KiB) Viewed 91 times

In 2022, Cheyenne Corp. has plant equipment that originally cost $165000 and has accumulated depreciation of $50000. A new processing technique has rendered the equipment obsolete, so it is retired. Which of the following entries should Cheyenne use to record the retirement of the equipment? Accumulated Depreciation - Equipment 50000 Loss on Disposal of Plant Assets 115000 Equipment 165000 Loss on Disposal of Plant Assets 115000 Accumulated Depreciation - Equipment 115000 0 Plant Equipment 165000 Accumulated Depreciation - Equipment 50000 Loss on Disposal of Plant Assets 115000 Loss on Disposal of Plant Assets 115000