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Disposal of delivery equipment of Perez Company

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(a) Perez Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received.
(b) Assume the same information as (a), except that accumulated depreciation for Perez Company is $37,000, instead of $41,000.

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This solution is comprised of a detailed explanation to prepare entries for disposal by retirement.

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(a) Perez Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on ...

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