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Running head: MANUFACTURING EQUIPMENT SALE GAINS AND LOSSES EXPL
Manufacturing Equipment Sale Gains and Losses Explained
Phoebessays
February 12, 2026
Abstract
Question 1 Lawler Clothing sold manufacturing equipment for $26, 000. Lawler originally purchased the equipment for $90000 and depreciation through the date of the sale totaled $76000. Was this a gain OR a loss? Answer= Gain What was the dollar amount of the gain r loss on the sale of the equipment? Answer= $12,000 Question 2 Kelly’s ltd sold manufacturing equipment for $45000. Kelly’s originally purchased the equipment for $100000 and depreciation through the date of sale totaled $86000. Prepare the journal entry for the sale of the equipment.
APA 7th Edition— Title centered and bold, double-spaced throughout, 1" margins, Times New Roman 12pt. First line of each paragraph indented 0.5". Running head on first page only.
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