Exercise 10-17 - Loss on exchange $ 65 Dick Tracy Business...

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EXERCISE 10-17 (10–15 minutes) Busytown Corporation Machine ($340 + $85). ..................................................... 425 Accumulated Depreciation. .......................................... 140 Loss on Disposal of Machine. ..................................... 65* Machine. ................................................................... 290 Cash . ......................................................................... 340 *Computation of loss: Book value of old machine ($290 – $140) $150 Fair value of old machine (85)
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Unformatted text preview: Loss on exchange $ 65 Dick Tracy Business Machine Company Cash. .................................................................................... 340 Inventory . ........................................................................... 85 Cost of Goods Sold . ....................................................... 270 Sales. ......................................................................... 425 Inventory. ................................................................. 270...
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