On April 1,Year 5 a Company Discarded a Machine That

question 141

Essay

On April 1,Year 5 a company discarded a machine that had cost $10,000 and had accumulated depreciation of $8,000 as of December 31,Year 4.The asset had a 5-year life and no salvage value.Prepare the journal entries to record the updating of the depreciation expense and discarding of this asset in Year 5.

---

Definitions:

Discrimination

Unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, sex, or disability.

Example

Typically a representative part or instance that is used to illustrate a rule or principle, or to explain or justify a particular concept.

Selective Perception

The process whereby people see only those things that reinforce their preconceived perceptions.

Illustrative Example

An example used to illustrate or explain a concept, idea, or principle more clearly.