Question

Lila Company purchased a computer on January 2, 2011, at a cost of $2,500. The computer is expected to have a useful life of five years and a residual value of $250.
Assume that the computer is disposed of on July 1, 2014. Record the depreciation expense for half a year and the disposal under the straight-line method under each of the following assumptions:
1. The computer is discarded.
2. The computer is sold for $400.
3. The computer is sold for $1,100.



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  • CreatedSeptember 10, 2014
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