Business, 26.11.2019 12:31 128585

disposal of fixed asset

pacifica manufacturing retired a computerized metal stamping machine on december 31, 2019. pacifica sold the machine to another company and did not replace it. the following data are available for the machine:

cost (installed), 1/1/2014 $880,000
residual value estimated on 1/1/2014 60,000
estimated life as of 1/1/2014 10 years
the machine was sold for $225,000 cash. pacifica uses the straight-line method of depreciation.

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disposal of fixed asset

pacifica manufacturing retired a computerized metal stamping mac...

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