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Yamada Industries is considering selling excess machinery with a book value of @220,000 (original cost of $600,000 less accumulated depreciation of #380,000) for $200,000, less a 6% brokerage commission. Alternatively, the machinery can be leased for a total of @290,000 for five years, after which it is expected to have o residual value. During the period of the lease, Yamada Industries costs of repairs, insurance, and property tax expenses are expected to be $71,000.
A. Prepare a differential analysis report, dated January 9,2012, for the lease or sell decision.
B. On the basis of the data presented, would it be advisable to lease or sell the machinery? explain.
Cheng Company traded a used truck for a new truck. The used truck cost $30,000 and has accumulated depreciation of $27,000. The new truck is worth $37,000. Cheng also made a cash payment of $36,000. Prepare Cheng's entry to record the exchange.
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