On January 1, 2004, the Accumulated Depreciation, Machinery account of a particular company showed a balance of $740,000. At the end of 2004, after the adjusting entries were posted, it showed a balance of $790,000. During 2004, one of the machines which cost $250,000 was sold for $121,000 cash. This resulted in a loss of $8,000. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2004?© BrainMass Inc. brainmass.com June 3, 2020, 10:02 pm ad1c9bdddf
Accumulated depreciation account
by bal c/d 740000
by depreciation ...
The solution contains Machinery a/c and accumulated depreciation a/c for the computation of depreciation expense during the year both in excel format and word format.