Nanotech Inc Owns a Machine with an Original Cost of $200,000

question 44

Essay

Nanotech Inc owns a machine with an original cost of $200,000 and a book value of $60,000.Give the entries to record the following
(a) Sold the machine for $72,000 cash.
(b) Discarded the machine
(c) Sold the machine for $5,000 cash and a $40,000 note

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Definitions:

Exons

Segments of a DNA or RNA molecule containing information coding for a protein or peptide sequence.

Introns

Noncoding sections of an RNA transcript, or the DNA encoding it, that are removed before the RNA molecule is translated into a protein.

Promoter

In an operon, a sequence of DNA where RNA polymerase binds prior to transcription.

Transcription

The process by which the information in a strand of DNA is copied into a new molecule of messenger RNA (mRNA).