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Presented below is information related to equipment owned by Swifty Company at December $31,2025.$

Assume that Swifty will continue to use this asset in the future. As of December $31,2025,$ the equipment has a remaining useful life of $4$ years and no salvage value.

$($a$)$

Your answer is correct.

Prepare the journal entry $($if any$)$ to record the impairment of the asset at December $31,2025.($If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

Attempts: $1$ of $3$ used

$($b$)$

$-$ Your answer is partially correct.

Prepare the journal entry to record depreciation expense for $2026.$ Use straight$-$line method. $($If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

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List of Accounts

Attempts: $1$ of $3$ used

$($c$)$

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