Record the disposal of the technology equipment

Reference no: EM133500757

Question: Lakeland University owns technology equipment that cost $125,200 and has accumulated depreciation of $92,000. Record the disposal of the technology equipment on 1/1/22 in each separate situation. 1. The technology equipment was obsolete. Lakeland disposed of the technology equipment and received nothing in return. 2. Lakeland sold the technology equipment for $16,400 cash. 3. Lakeland sold the technology equipment for $40,700 cash.

Record the disposal of the technology equipment receiving nothing in return.

Record the sale of the technology equipment for $16,400 cash.

Record the sale of the technology equipment for $40,700 cash.

Reference no: EM133500757

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