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Sagot :
Answer:
1. In the books of Denver
Dr Accumulated depreciation 55000
Dr Warehouse (new) 30000
Dr Loss on disposal 7000
Cr Warehouse (old) 90000
Cr Cash 2000
2. In the Books of Bristol:
Dr Cash 2000
Dr Warehouse (new) 28,000
Dr Accumulated depreciation 25000
Cr Loss on disposal 10000
Cr Warehouse (old) 45000
Explanation:
1. Preparation of the journal entries for Denver
In the books of Denver
Dr Accumulated depreciation 55000
Dr Warehouse (new) 30000
($28000 + $2000)
Dr Loss on disposal 7000
(90,000+2,000-55,000-30,000)
Cr Warehouse (old) 90000
Cr Cash 2000
(Being To record the exchange of warehouse)
2. Prepare of the journal entries for Bristol
In the Books of Bristol:
Dr Cash 2000
Dr Warehouse (new) 28,000
($30000 - $2000)
Dr Accumulated depreciation 25000
Cr Loss on disposal 10000
(2000+28,000+25,000-45,000)
Cr Warehouse (old) 45000
(Being To record the exchange of warehouse)
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