Equipment costing $118,000 has accumulated depreciation of $92,000. The equipment is a trade-in for new equipment costing $191,000. If the trade-in value received for the old equipment is $35,000, the journal entry to record this transaction is to:
◦ debit Equipment (New) for $191,000, and credit Cash for $191,000.
◦ debit Equipment (New) for $191,000, debit Accumulated Depreciation – Equipment for $92,000, credit Equipment (Old) for $118,000 and credit Cash for $165,000.
◦ debit Equipment (New) for $191,000, debit Accumulated Depreciation – Equipment for $92,000, credit Equipment (Old) for $118,000, credit Cash for $156,000, and credit Gain on Exchange of Assets for $9,000.
◦ debit Equipment (New) for $191,000, debit Accumulated Depreciation – Equipment for $92,000, debit Loss on Exchange of Assets for $26,000, credit Equipment (Old) for $118,000 and credit Cash for $191,000.
Scoliometer and Its Use, Equipment
Atlantic Slave Trade, 1451–1870
Sample equipment maintenance log.
Transatlantic Slave Trade
Crucible Lab Equipment
Equipment Used During the Physical Assessment