Marshall construction records the information connect

Info icon This preview shows pages 5–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Marshall Construction records the information connect to loss of result; Keillor record the part as above. (c) Assuming the same facts as those in (a), except that the fair value of the old crane is $98,000 and the cash paid is $102,000, prepare the journal entries on the books of (1) Marshall Construction and (2) Brigham Manufacturing. Marshall Const Equipment 190,000 Accumulated depreciation 50,000 Equipment 140000 Cash 92000 Loss on disposal 8000 Brigham Mfg. Co 102,000 Equipment 98,000 sales 200000 cost of goods sold 165,000 Equipment 165000 Book value 90,000 Fair value 98,000 Loss on disposal (8,000) (d) Assuming the same facts as those in (b), except that the fair value of the old crane is $97,000 and the cash paid $103,000, prepare the journal entries on the books of (1) Marshall Construction and (2) Brigham Manufacturing. Marshall Const Equipmen t 200,000 Accumulated depreciation 50,000 Equipment 140,000 Cash 103,000 Gain on disposal 7,000 Brigham Mfg. Co Cash 103,000
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Equipment Inventory 97,000 Sales 200,000 Cost of goods sold 165,000 Equipment Inventory 165,000 Book value -200,000 Fair value 97,000 Loss on disposal 297,000
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern