Solved Exercise 10-16 Disposal of assets LO P2 Diaz Company
Exercise 10-16 Disposal of assets LO P2 Diaz Company owns a milling machine that cost $125,800 and has accumulated depreciation of $90,200. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing.
