Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
harra harra
wrote...
Go to Answer
Posts: 1309
Rep: 2 0
6 years ago
Global Enterprises Inc. sold some fully amortized equipment for $2,700 cash. The equipment had been purchased for $26,500 and Global had an estimated useful life at eight years and residual value at $3,500. The journal entry to record the sale of the equipment is:
A)
Cash   2,700   
          Equipment      2,700

B)
Cash   2,700   
Accum. Amort.-Equipment         23,000   
Loss on Sale of Equipment    800   
          Equipment      26,500

C)
Cash   2,700   
Loss on Sale of Equipment    800   
          Equipment      3,500

D)
Cash   2,700   
Accum. Amort.-Equipment         23,800   
          Equipment      26,500
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
Read 71 times
1 Reply
Replies
Answer verified by a subject expert
HanoiHanoi
wrote...
#1
Posts: 433
Rep: 20 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

harra Author
wrote...

6 years ago
Helped a lot
djeghri
wrote...

Yesterday
You make an excellent tutor!
fxinternational
wrote...

2 hours ago
Brilliant ツ
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1303 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 279
  
 43
  
 197
Your Opinion
Which 'study break' activity do you find most distracting?
Votes: 741
Previous poll results: Which is the best fuel for late night cramming?