ACC557 Week 10 Chapter 14 E14 3 E14 4 E14 13 P14 6A
EXERCISE 13-3
1. (a) Cash ............................................................. 10,000
Loss on Disposal of Plant Assets............................ 2,000
Land................................................................ 12,000
(b) The cash receipt ($10,000) is reported in the investing section. The loss ($2,000) is added to net income in the operating section.
2. (a) Cash ............................................................. 22,000
Common Stock............................................... 22,000
(b) The cash receipt ($22,000) is reported in the financing section.
3. (a) Depreciation Expense.............................................. 14,000
Accumulated Depreciation—........................
Buildings......................................................... 14,000
(b) Depreciation expense ($14,000) is added to net income in the operating section.
4. (a) Salaries and Wages Expense.................................................................... 7,000
Cash.................................................................................................... 7,000
(b) Salaries and
ACC557 Week 10 Chapter 14 (E14-3 E14-4 E14-13 P14-6A)
EXERCISE 13-3 1. (a) Cash 10,000 Loss on Disposal of Plant Assets 2,000 Land 12,000 (b) The cash receipt ($10,000) is reported in the inves...
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