AP 8 1 2 A ( Straight line and double diminishing balance depreciation with disposal ) On March 1 , 2 0 2 3 , Zephur Winds Ltd purchased a machine for $ 8 0 , 0 0 0 by paying $ 2 0 , 0 0 0 down and issuing a note for the balance The machine had an estimated useful life of nine years and an estimated residual value of $ 8 , 0 0 0 Zephur Winds uses the straight line method of depreciation and has a December 3 1 year end On October 3 0 , 2 0 2 5 , the machine was sold for $ 6 2 , 0 0 0 Required Prepare the journal entry to record the acquisition of the machine Assuming that the depreciation was correctly calculated and recorded in 2 0 2 3 and 2 0 2 4 , prepare the journal entries to update the depreciation and record the sale of the machine on October 3 0 , 2 0 2 5 Assume instead that the company used the double diminishing balance method to depreciate the cost of the machine What amount of depreciation would be recorded in 2 0 2 3 and 2 0 2 4 What journal entries would be required to update the depreciation and record the sale of the machine on October 3 0 , 2 0 2 5

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AP 8   1 2 A ( Straight   line and double   diminishing   balance depreciation with disposal ) On March 1 , 2 0 2 3 , Zephur Winds Ltd   purchased a machine for $ 8 0 , 0 0 0 by paying $ 2 0 , 0 0 0 down and issuing a note for the balance  The machine had an estimated useful life of nine years and an estimated residual value of $ 8 , 0 0 0   Zephur Winds uses the straight   line method of depreciation and has a December 3 1 year end  On October 3 0 , 2 0 2 5 , the machine was sold for $ 6 2 , 0 0 0   Required Prepare the journal entry to record the acquisition of the machine  Assuming that the depreciation was correctly calculated and recorded in 2 0 2 3 and 2 0 2 4 , prepare the journal entries to update the depreciation and record the sale of the machine on October 3 0 , 2 0 2 5   Assume instead that the company used the double   diminishing   balance method to depreciate the cost of the machine  What amount of depreciation would be recorded in 2 0 2 3 and 2 0 2 4   What journal entries would be required to update the depreciation and record the sale of the machine on October 3 0 , 2 0 2 5

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Question: AP 8 - 1 2 A ( Straight - line and double - diminishing - balance depreciation with disposal ) On March 1 , 2

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