When a company discards machinery that is fully depreciated, this transaction would be recorded with the following entry
A) debit Accumulated Depreciation; credit Machinery
B) debit Machinery; credit Accumulated Depreciation
C) debit Cash; credit Accumulated Depreciation
D) debit Depreciation Expense; credit Accumulated Depreciation

Question

Quizplus · Accepted Answer

When machinery is fully depreciated and discarded, the entry involves debiting Accumulated Depreciation to remove the accumulated depreciation from the books and crediting Machinery to remove the asset from the books.

When a Company Discards Machinery That Is Fully Depreciated, This