(a) Echo Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received.
(b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,200 instead of $41,000.

(A)

accumualted depreication equipment 41,000 debit

                          equipment                   41,000 credit

(B)

accumualted depreication equipment 37,200 debit

loss at disposal                                        3,800 debit

                          equipment                   41,000 credit

Explanation:

to retire the equipment itt will write-off their equipment account

if the accumulated depreication matches the book value then there will be no loss at disposal while if lower a loss will be recognized.

(a) 41,000 book value - 41,000 depreciation = 0 no loss

(b) 41,000 - 37,200 = 3,800 loss at disposal

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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