Question: Exercise 10-10 Z Your answer is partially correct. Try again. Pryce Company owns equipment that cost $61,800 when purchased on January 1, 2014. It has


Exercise 10-10 Z Your answer is partially correct. Try again. Pryce Company owns equipment that cost $61,800 when purchased on January 1, 2014. It has been depreciated using the straight-line method based on estimated sa vage value of $4,500 and an estimated useful life of 5 years. Prepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g.125. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sold for $29,380 on January 1, 2017. (b) Sold for $29,380 on May 1, 2017 (c) Sold for $10,800 on January 1, 2017. (d) Sold for $10,800 on October 1, 2017
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
