Game Company's Computer Was Destroyed by Fire

question 124

Essay

Game Company's computer was destroyed by fire.The computer originally cost $6,000,and accumulated depreciation to the date of the fire was $1,900.The company received $2,000 from an insurance policy that covered the computer and will use that money to help pay for a new computer.Prepare the general journal entry to record the loss of the computer and the receipt of cash from the insurance company.

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Definitions:

People

In marketing, refers to the individuals or groups who are the focus of marketing efforts, including customers, employees, and other stakeholders.

Automations

The technology by which a process or procedure is performed with minimal human assistance, often improving efficiency and accuracy.

Equipment-based Service

A type of service that heavily relies on physical devices or machines to deliver value to customers.

Lawn Care

The practice of maintaining and taking care of gardens, especially grassy areas, through activities such as mowing, fertilization, and weed control.