Accounting Help pls!?

Question

Equipment acquired at a cost of $126,000 and a book value of $42,000. Journalize the disposal of the equipment under the following independent assumptions.

(a) The equipment had no market value and was discarded.

(b) The equipment is sold for $53,000.

(c) The equipment is sold for $27,000.

(d) The equipment is traded-in for a similar asset. The list price of the new equipment is $63,000.

Answer 1

a. Credit Equipment for $126000

Dr Accumulated Depreciation/Equipment $84000

Dr Loss on Disposal $42000

b.Dr Cash $53000

Dr Accumulated Depreciation/Equipment $84000

Cr Equipment for $126000

Cr Gain on Sale of Equipment $11000

c. Dr Cash $27000

Dr Acc Dep/Eq $84000

Dr Loss on Sale of Eq $15000

Cr Equipment $126000

d. Cr Equipment $84000

Dr Acc/Depr $84000