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    farduus's Avatar
    farduus Posts: 3, Reputation: 1
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    #1

    Feb 9, 2010, 06:53 PM
    Record journal entries for the disposal under the following assumptions.
    Phill Co. has delivery equipment that cost $54,000, a salvage value of $4000, and a five year life. The asset was purchased on January 1, 2006 and for disposed on January 1, 2008. Phill Co. uses the straight-line method of depreciation.

    Instructions
    Record journal entries for the disposal under the following assumptions.
    a. It was scrapped as having no value.

    b. It was sold for $37,000.

    c. It was sold for $18,000
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Feb 11, 2010, 02:44 AM

    Please see the guidelines for posting homework problems:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
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