April 12-2011 - PROBLEM 10-8 1. Holyfield Corporation Cash....

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PROBLEM 10-8 1. Holyfield Corporation Cash. ....................................................................... ................................................................................. 23,000 Machinery. .............................................................. 69,000 Accumulated Depreciation. .................................. 60,000 Loss on Disposal of Machinery. ........................... 8,000* Machinery. ...................................................... 160,000 *Computation of loss: Book value $100,000 Fair value (92,000 ) Loss $ 8,000 Dorsett Company Machinery. .............................................................. 92,000 Accumulated Depreciation. .................................. 45,000 Loss on Disposal of Machinery. ........................... 6,000* Cash. ............................................................... 23,000 Machinery. ...................................................... 120,000 *Computation of loss: Book value $ 75,000 Fair value (69,000 ) Loss
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This note was uploaded on 04/29/2011 for the course ACCT 3001 taught by Professor Erickson during the Spring '10 term at University of Minnesota Duluth.

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April 12-2011 - PROBLEM 10-8 1. Holyfield Corporation Cash....

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