Prepare Journal entries for the following transactions (show any dal culation below)Explanations are not equired....
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Accounting
Prepare Journalentries for the following transactions (show any dal culation below)Explanations are not equired. Rond entries to the nearestdollar,if necessary .
2012 Jan 1 purchased a building for $84000 cash ,$400 residual value,20-year expected life. Double %u2013declining balance depreciation.
May 1 purchased equipment for $2500 cash, $3000 residual value, 10-year expected life, straight- line depreciation.
DEC 31 recorded depreciation on the building
Dec 31 recorded depreciation on the equipment.
2013 June 30 SOLD THE EQUIPMENT FOR $ 21000 cash.(record depreciation to date for 2013 before selling equipment)
Dec 31 recorded depreciation on the building.
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