Che Ly Company disposed of two different assets. On Janual 1. prior to disposal of the assets, the accounts reflected th

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Che Ly Company Disposed Of Two Different Assets On Janual 1 Prior To Disposal Of The Assets The Accounts Reflected Th 1 (29.6 KiB) Viewed 37 times

Che Ly Company Disposed Of Two Different Assets On Janual 1 Prior To Disposal Of The Assets The Accounts Reflected Th 2 (36.95 KiB) Viewed 37 times

Che Ly Company Disposed Of Two Different Assets On Janual 1 Prior To Disposal Of The Assets The Accounts Reflected Th 3 (42.01 KiB) Viewed 37 times

Che Ly Company Disposed Of Two Different Assets On Janual 1 Prior To Disposal Of The Assets The Accounts Reflected Th 4 (47.37 KiB) Viewed 37 times

Che Ly Company Disposed Of Two Different Assets On Janual 1 Prior To Disposal Of The Assets The Accounts Reflected Th 5 (59.65 KiB) Viewed 37 times

Che Ly Company disposed of two different assets. On Janual 1. prior to disposal of the assets, the accounts reflected the following: Estimated Acculated Depreciation straight line) $20,600 (4 years) 61,750 (13 years) Residual Valve 53,500 3.950 Machine Machine $29,250 75,00 5 years 15 years The machines were disposed of in the following ways: a. Machine A: This machine was sold on January 1 for $7700 cash b. Machine B: On Januaryt, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the current year. Transaction "s" relates to the recording of the depreciation, and transaction "b* relates to the recording of the disposal of the machine. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Machine A - Jant View transaction list
Machine A Jant View transaction list Journal entry worksheet < > Record the entry for depreciation expense. Notenter det before credit Transaction General Journal Debit Credit Record entry Clear entry View general journal NA
Machine A Jan 1: View transaction list Journal entry worksheet < 2 Record the entry for disposal of Machine A. Note: Enter debits before credits: Transaction General Journal Debit Credit Record entry Clear entry View general journal
Machine B - January 1: View transaction list Journal entry worksheet 2 Record the entry for depreciation expense. Note: Enter debits before credits. Debit General Journal Transaction Credit a Record entry Clear entry View general Journal
Machine B - January 1: View transaction list Journal entry worksheet く 2 > Record the entry for disposal of Machine B. Note: Enter debits before credits Transaction General Journal Debit Credit b Record entry Clear entry View general journal