need number 2 please Entries for Sale of Fixed Asset Equipment acquired on...
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Accounting
need number 2 please
Entries for Sale of Fixed Asset Equipment acquired on January 5 at a cost of $144,070, has an estimated useful life of 16 years, has an estimated residual value of $9,350, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? 110,390 Feedback b. Assuming that the equipment was sold on April 1 of the fifth year for 101,895. 1. Journalize the entry to record depreciation for the three months until the sale date. Round your answers to the nerest whole dollar if required. 2,105 Depreciation Expense-Equipment Accumulated Depreciation Equipment 2,105 Feedback 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations. Cash 0 Accumulated Depreciation Equipment 0 Loss on Sale of Equipment 0 Equipment 0 144,070
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