Equipment acquired on January 8, 2013, at a cost of $140,000, has an estimated useful life of
Question:
a. What was the book value of the equipment at December 31, 2016, the end of the year?
b. Assuming that the equipment was sold on July 1, 2017, for $96,700, journalize the entries to record
(1) Depreciation for the six months until the sale date, and
(2) The sale of the equipment?
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a Cost of equipment 140000 Accumulated depreciation at December 31 2016 4 years at 825...View the full answer
Answered By
Sachin Nalawade
EDUCATION:
PhD. (SRF) in Chemistry, Department of Chemistry
Indian Institute of Science Education and Research (IISER), Pune, India.
Master of Science (Chemistry)Department of Chemistry,
Dr. Babasaheb Ambedkar Marathwada University, Aurangabad.
Bachelor of Science (Chemistry, Physics, Comp.Sci.)
Rajarshi Shri Shahu Arts, Commerce and Science College, Pathri.
Teaching Experience :
Served as teaching assistant during doctoral program for three different undergraduate courses in chemistry (including one practical course) and problem solving sessions at Indian Institute of Science Education and Research (IISER), Pune, India.
I have solid experience in research and great scientific knowledge in chemistry, great problem
solving ability, adaptability to change, ability to work in team, good in communication
and social awareness, experience in research for more than five year and teaching for 2
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Related Book For
Accounting
ISBN: 978-1285743615
26th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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