On June 30, 2015, Regal Furniture Discarded a Fully Depreciated

question 80

Essay

On June 30, 2015, Regal Furniture discarded a fully depreciated equipment costing $35,000. Journalize the disposal of the equipment.

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Definitions:

Service Relay Valve

A Service Relay Valve is a pneumatic device in heavy-duty vehicles' braking systems that responds to signals from the brake pedal to apply or release air pressure to the brakes, ensuring timely and proportional braking action.

Trailer Air Tanks

Pressurized air reservoirs used in the air brake system of a trailer to store compressed air necessary for brake operation.

Service Brake Chambers

Components in air brake systems that convert air pressure into mechanical force to apply the brakes.

Hold-Off Circuit

The air brake circuit used to charge air to the spring brake chambers to compress the park spring. The hold-off circuit must be charged with air before a vehicle with spring brakes can move.