Preparing journal entries to update depreciation

Reference no: EM13141970

Carlton Company sells office equipment on September 30, 2010, for $21,000 cash. The office equipment originally cost $72,000 and as of January 1, 2010, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2010 is $6,000. Prepare the journal entries to (a) update depreciation to September 30, 2010 and (b) record the sale of the equipment.

Reference no: EM13141970

Questions Cloud

Chemicals for indoor concrete flooring explanations : Important information about Chemicals for Indoor Concrete Flooring Explanations on high solids floor finish chemicals used on indoor concrete flooring

Find probability that mean salary of teachers is greater : Mathml equation = $32,000 and mathml equation = $3000. If 100 teachers are randomly selected, find the probability that their mean salary is greater than $32,500.

Annual overhead costs problem : If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then:

Influences of the roman catholic church : What were some of the influences of the Roman Catholic Church on music in the middle ages?

Preparing journal entries to update depreciation : Carlton Company sells office equipment on September 30, 2010, for $21,000 cash. The office equipment originally cost $72,000 and as of January 1, 2010, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2010 is $6,000...

Chart of flow of costs form processing department accounts : Prepare a chart of the flow of costs form the processing department accounts into the finische gooss accounts and then into the cost of goods sold account. The relevant accounts are as follows:

Describe how a cam plant responds to hot, dry weather : Describe how a CAM plant responds to hot, dry weather. How does differ from the C4 plant ?

Estimate the population mean for all workers at company : Estimate of the population mean for all workers at the company. Unknown to you, the sampling distribution of the sample mean has an average value of 4.8.

Defluorination and adhesion properties : Defluorination & adhesion properties, Using ion bombardment-If Teflon is deflorinated to increase it's adhesion properties, then what would the changes in surface characteristics be?

User Account

All Pages