Question: E7-37B. (Learning Objectives 2, 3: Analyzing the effect of a sale of a PPE; DDB depreciation) Assume that on January 2, 20X6, LaSalle of Lyon

E7-37B. (Learning Objectives 2, 3: Analyzing the effect of a sale of a PPE; DDB depreciation) Assume that on January 2, 20X6, LaSalle of Lyon purchased fixtures for 8,400 cash, expecting the fixtures to remain in service for five years. LaSalle has depreciated the fixtures on a double-declining-balance basis, with 1,800 estimated residual value. On September 30, 20X7, LaSalle sold the fixtures for 2,200 cash. Record both the depreciation expense on the fixtures for 20X7 and then the sale of the fixtures. Apart from your journal entry, also show how to compute the gain or loss on LaSalles disposal of these fixtures.

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