Bramble Company has an old factory machine that cost 59750 T

Bramble Company has an old factory machine that cost $59,750. The machine has accumulated depreciation of $33,460. Bramble has decided to sell the machine.

(a)		Prepare a tabular summary to record the sale of the machine for $29,875 cash.
(b)		Prepare a tabular summary to record the sale of the machine for $17,925 cash.

Assets Liabilities + Stockholders\' Equity Retained Earnings Cash Equipment - Accum. Depr.-Equip. Common StockReven ExpenseDividend Bal (33460) Gain on disposal = Liabilities + Stockholders\' Equity Retained Earnings Cash Equipment - Accum. Depr.-Equip. = +Common Stock Revenue ExpenseDividend Bal Loss on disposal Click if you would like to Show Work for this question: Open Show Work

Solution

(a)

(b)

Assets =	Liabilities + Stockholders\' equity
Cash	Equipment - Accu. Dep. = Net Equiment	Common stock	Gain on disposal
29,875	59,750 - 33,460 = - 26,290		3,585