Garcia Company owns equipment that cost $84,000, with accumulated depreciation of $44,400.Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,400 cash,(2) $39,600 cash, and (3) $34,500 cash.View transaction listJournal entry worksheet< Aв сRecord the sale of equipment assuming Garcia sells the equipment for $52,400cash.Note: Enter debits before credits.Transaction1General JournalDebitCredit

Given, Cost = $84,000 Accumulated depreciation = $44,400 Book value = Cost - Accumulated…

Garcia Company owns equipment that cost $84,000, with accumulated depreciation of $44,400. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,400 cash, (2) $39,600 cash, and (3) $34,500 cash.

Garcia Company owns equipment that cost $84,000, with accumulated depreciation of $44,400. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,400 cash, (2) $39,600 cash, and (3) $34,500 cash.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 14PB: Garcia Co. owns equipment that costs $150,000, with accumulated depreciation of $65,000. Garcia...

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Question

Garcia Company owns equipment that cost $84,000, with accumulated depreciation of $44,400.
Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,400 cash,
(2) $39,600 cash, and (3) $34,500 cash.
View transaction list
Journal entry worksheet
< A
в с
Record the sale of equipment assuming Garcia sells the equipment for $52,400
cash.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit

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