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Equpment acquired on January at a cost 360/200 has an esimated use of years and...

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Accounting

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Equpment acquired on January at a cost 360/200 has an esimated use of years and an estimated residua vaue of $4700 a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 40,022 Year 2 40,022 Year 3 40,022 b. What was the book value of the equipment on January 1 of Year 4? 120,066 c. Assuming that the equipment was sold on January 3 of Year 4 for $243,000, journalize the entry to record the sale. If an amount box does not require an entry, leave blank Jan. 3 Cash Accumulated Depreciation Equipment Loss on Sale of Equipment Equipment d. Assuming that the equipment had been sold on January 3 of Year 4 for $260,900 instead of $243,000, Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank Jan, 3 Cash Accumulated Depreciation Equipment Gain on sale of time Previous Next > All won saved Ernst Submit Test for Grading

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