Cypres Amusements Co. purchased a merry go round for $600,000. The estimated life is 20 years and has a residual value of $40,000. After fully depreciating the merry go round and unable to find a buyer, Cypres disposed of it. Using the straight line method of depreciation, find; A) The depreciation rate B) The book value when it was disposed C) The entry for the disposal Question 2 Using the same information, assume they sold the merry go round on June 23rd of the 15th year for $200,000. A) Journalize the entry (entries) to record the sale.

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Cypres Amusements Co. purchased a merry go round for $600,000. The estimated life is 20 years and has a residual value of $40,000. After fully depreciating the merry go round and unable to find a buyer, Cypres disposed of it. Using the straight line method of depreciation, find; A) The depreciation rate B) The book value when it was disposed C) The entry for the disposal Question 2 Using the same information, assume they sold the merry go round on June 23rd of the 15th year for $200,000. A) Journalize the entry (entries) to record the sale. Cypres Amusements Co. purchased a merry go round for $600,000. The estimated life is 20 years and has a residual value of $40,000. After fully depreciating the merry go round and unable to find a buyer, Cypres disposed of it. Using the straight line method of depreciation, find; A) The depreciation rate B) The book value when it was disposed C) The entry for the disposal Question 2 Using the same information, assume they sold the merry go round on June 23rd of the 15th year for $200,000. A) Journalize the entry (entries) to record the sale.