A Machine That Cost $13,000 and on Which $9,300 of Accumulated

question 213

Short Answer

A machine that cost $13,000 and on which $9,300 of accumulated depreciation had been recorded was disposed of for $3,700. The entry to record the disposal of the machine is:

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Definitions:

Big Picture

An overall perspective or an understanding of the broader aspects of a situation, excluding the minor details.

Competitive

The state of trying to outperform rivals in a market by offering better products, prices, or services.

Human Resource Management

The strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage.

Performance Appraisal

A systematic evaluation process in which the work performance of an employee is evaluated in terms of quality, quantity, cost, and time.