Additional Information
The Company records depreciation on a year SL basis with no salvage value. All of the
Companys equipment was placed in service on
On December the Company disposed of a piece of equipment on which it hadrecorded one year of depreciation. The equipment was sold for its original purchase price,
for cash.
Required
What journal entries would have been prepared and have been recorded by management for
the Companys depreciation expense and the sale of the equipment on December
The adjusted trial balance for Oscar Corporation
the Company follows.
The adjusted trial balance for Oscar Corporation the Company
The Company records depreciation on a year SL basis with no salvage value. All of the Company's equipment was placed in service on
On December the Company disposed of a piece of equipment on which it had recorded one year of depreciation. The equipment was sold for its original purchase price, for cash.
Required
What journal entries would have been prepared and have been recorded by management for the Company's depreciation expense and the sale of the equipment on December
