Question: I need help with Question A only. I have tried 612,500 x 22.2222% and that is incorrect. Please help! Instructions Equipment was acquired at the
I need help with Question A only. I have tried 612,500 x 22.2222% and that is incorrect. Please help!

Instructions Equipment was acquired at the beginning of the year at a cost of $812,500. The equipment was depreciated using the double-declining balance method based on an estimated useful life of 9 years and an estimated residual value of $43.930. Required: a. What was the degreciation for the first year? Round your inzermediare calculations 20 4 decimal places. Round the depreciation for the year to the nearest whole dollar. b. Assuming that the equipment was sold at the end of the second year for 5605702, determine the gain or loss on the sale of the equipment C. Journalize the entry on Dec. 31 to record the sale. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumais do not use Nnes for journal explanations. Every ine on a journal page is used for debit or credit entries CNOW joumals will automatically indent a credit entry when a credit amount is entered First Questions Shaded cells have feedback. a. What was the depreciation for the first year? Round your intermediate calculations to 4 decimal places. Round the depreciation for the year to the nearest whole dollar. $136,111 Paints: 0/1 ... Assuming that the equipment was sold at the end of the second year for 5805,702, determine the gain or loss on the sale of the equipment. $255,157 galin Points 1/1 Feedback
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