eBook Show Me How Calculator Print Item Disposal of Fixed Asset Equipment acquired on January...
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eBook Show Me How Calculator Print Item Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $320,200, has an estimated useful life of 8 years and an estimated residual value of $41,800 Year Year 1 a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Depreciation Expense 34,800 Year 2 215,600 x Year 3 205,000 x b. What was the book value of the equipment on January 1 of Year 4? 215,600 X c. Assuming that the equipment was sold on January 3 of Year 4 for $205,000, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. III) d. Assuming that the equipment had been sold on January 3 of Year 4 for $220,100 instead of $205,000, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.
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