TCO B) Adjusting Entries: Accumulated depreciation-machinery

timer Asked: Aug 26th, 2015

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(TCO B) Adjusting Entries: Accumulated depreciation-machinery at 1/1/1X was $150,000. At 12/31/1X, the balance of the account was $300,000. During 201X, one piece of equipment was sold. The equipment had an original cost of $100,000 and was 1/2 depreciated when sold. You are to prepare the missing adjusting entry. For each journal entry write Dr. for debit and Cr. for credit. (Points : 10)

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