tomework Help - Q.BA from Oni x ameengage.com/mod/quiz/attempt.php?attempt=37759238cmid=1100528&page=4 ill Cepexcel M Gmail 23 Mail.ru YouTube " Google Docs ConocoBoil war pyA. N Netflix 4 Investopedia 50 Duolingo SAM SAM ECON Vretta Sage 50 CINCOK ANA YTCHUR FANSHAWE AME ENGAGE" English (en) * Alexandr John Roberts Not checked On December 31, 2014 DEF Company purchased equipment worth $240,000. The equipment has a useful life of six years and no residual value. Depreciation is re orded beginning the month after acquisition and Mark 25.00 out of 29:00 will be recorded up until the month of disposal. The company uses the straight-line method of depreciation. Flag Required question a) Given that the company's year e cember 31, complete the following table. Do not enter dollar signs or commas in the input boxes. Round all dollar figure ansy nearest whole number Year Cost of Long-Term Asset Depreci ion Expense Accumulated Depreciation Net Book Value 2015 $240,000 S $ 40000 $ 200000 2016 $240,000 $ 40000 $ 80000 $ 160000 2017 240,000 $ 40000 $ 120000 $ 120000 2018 $240,000 $ 4000 160000 $ 80000 2019 $240,000 $ 40000 200000 $ 40000 2020 $240,000 $ 40000 240000 $ 0 b) On June 30, 2020, DEF Company sold the equipment for $6,000 Prepare the journal entry to record the depreciation on the disposal and the sale. You will need to recalculate the depreciation expense for 2020 from part a) to account for the sale part-way through the year. Enter all debit accounts in alphabetical order Date Account Title and Explanation Debit Credit Jun 30 Depreciation Expense Accumulated Depreciation To update depreciation before disposal Jun 30 Accumulated Depreciation Cash 6000 Loss on Disposal of Asset Equipment 240000 To record the sale of equipment Check Contact us