Millworks company owns a milling machine that cost 12500, Ask an Expert

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Millworks Company owns a milling machine that cost $125,00 and has accumulated depreciation of 91,000. Prepare the entry to record the disposal of the milling machine on Janurary 5 under each of the folling undependent situations.
1. The machine needed extensive repairs, and it was not worth repairing. Millworks disposed of the machine, receiving nothing in return.

2. Nukkwirjs sikd the machine for 17,500 cash

3. Millworks sold the machine for 34,000 cash

4. Millworks sold the machine for 40,000 cash

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9957581

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