On April 1, Year 5 a Company Discarded a Machine

question 169

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 $0 residual value. Prepare the journal entries to record the updating of the depreciation expense and discarding of this asset in Year 5.

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Definitions:

Trustworthy Sources

Entities or individuals considered to provide reliable and accurate information, gaining the confidence of others through integrity and credibility.

Communication-Persuasion Paradigm

A research paradigm that conceptualizes persuasion attempts in terms of source, message, target, channel, and impact—that is, who says what to whom by what medium with what effect.

Persuasion Attempt

An effort made to convince or influence someone to change their beliefs, attitudes, or behaviors through argument, appeal, or reasoning.

Components

Fundamental parts or elements that combine to form a whole system or structure.