Equipment acquired at the cost of 126000 and has book value

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Reference no: EM13452988

Equipment acquired at a cost of $126,000 and has a book value of $42,000. Journalize the disposal of equipment under the following independent assumptions. Identify each assumption by letter.

(a)	The equipment had no market value and was discarded.
(b)	The equipment is sold for $53,000.
(c)	The equipment is sold for $27,000.
(d)	The equipment is traded-in for a similar asset. The list price of the new equipment is $63,000. The exchange has no commercial substance.

Reference no: EM13452988

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