Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. equipment was purchased for $32,000 on january 1,2

Equipment was purchased for $32,000 on January 1,2025 . The equipment's estimated useful life was...

70.2K

Verified Solution

Question

Accounting

Equipment was purchased for $32,000 on January 1,2025 . The equipment's estimated useful life was five (5) years, and its residual value was $1,500. The straight - line method of depreciation was used. What is the journal entry to record the sale of the equipment for $12,800 cash on January 3,2027 ? A. Cash Accumulated Depreciation - Equipment Loss on Disposal Equipment B. Cash Accumulated Depreciation - Equipment Gain on Disposal Equipment C. Cash Accumulated Depreciation - Equipment Loss on Disposal Equipment D. Equipment Accumulated Depreciation - Equipment Loss on Disposal Cash 12,800 12,200 7,000 32,000 12,800 26,200 12,800 6,100 13,100 32,000 12,200 32,000 7,000 32,000

please hurry

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the p-value of a two-tailed one-mean hypothesis test, with a test statistic of z0=0.27?...

Statistics
Q

Calculate the commutators of angular momentum (a) [x,Lx],[y,Lx],[z,Lx] (b) [px,Lx],[py,Lx],[pz,Lx]

Physics
Q

An ammeter of resistance 0 80 2 can measure current upto 1 0 A i...

Physics
Q

Two segments of Parallelogram DEFG are shown below Select a coordinate pair BEST represents the...

Geometry
Q

Find f[g(x)] and g[f(x)].f(x) = 5x-3; g(x) =8/xf(g(x)] =

Basic Math
Q

6 12 Determine whether the given function is a solution of the differential equation 6...

Calculus
Q

Use the quadratic formula to solve for x when f x 0 show your calculations...

Calculus
Q

Graph the parabola.2y=x +6x+4Plot five points on the parabola: the vertex, two points to the...

Calculus
Q

3 The sum of 3 numbers is 105 The 3rd is 11 less than ten...

Algebra
Q

Required information [The following information applies to the questions displayed below.] Dengo Company makes a...

Accounting
Q

A consultant, after 3 months of work, reported that the modified B/C ratio for a...

Accounting
Q

Best Buy's new CEO and CFO will need to function as catalysts in helping the...

Accounting