1-Record the journal entries related to the total depreciation expense for 2023 (all cars included)

2- Record the journal entries related to the disposal of the BMW Serie 5 on 06/22/2023.

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The company << PERFUME-GLOBE » is specialized in manufacturing and selling luxury perfumes. The company provided you with the following items pertaining to its property, plant, and equipment section in the 2023 balance sheet. Elements of PPE Acquisition Salvage Acquisition Depreciation Useful Cost value date method life Cars BMW Serie 5 Fiat Ducato Maxi Ford Focus 500 000 ? 240 000 50 000 ? Straight-line 5 years 25 000 07/27/2021 Straight-line 5 years 40 000 04/16/2022 Double- declining- balance (according to best practices) 5 years Accumulated depreciation - beginning balance of 2023 255 000 105 000 Comments Sold on 06/22/2022 for 225,000 The company << PERFUME-GLOBE » is specialized in manufacturing and selling luxury perfumes. The company provided you with the following items pertaining to its property, plant, and equipment section in the 2023 balance sheet. Elements of PPE Acquisition Salvage Acquisition Depreciation Useful Cost value date method life Cars BMW Serie 5 Fiat Ducato Maxi Ford Focus 500 000 ? 240 000 50 000 ? Straight-line 5 years 25 000 07/27/2021 Straight-line 5 years 40 000 04/16/2022 Double- declining- balance (according to best practices) 5 years Accumulated depreciation - beginning balance of 2023 255 000 105 000 Comments Sold on 06/22/2022 for 225,000

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1 Journal Entries for Total Depreciation Expense for 2023 All Cars Included To record the total depreciation expense for 2023 you need to calculate th... View the full answer