Your answer is correct. What is the depreciation expense for January 1, 2018, to October 31, 2018? Depreciation expense $ 6750 Attempts: 1 of 3 used Your answer is correct. On November 1, 2018, the company purchased additional equipment for $10,320 that also had a useful life of eight years and no residual value. What is the depreciation for the two months ending December 31, 2018? Total depreciation for 2 months $ 1565 Attempts: 1 of 3 used X Your answer is incorrect. On December 31, 2018, the company sold some equipment for a loss of $2,790. After recording the sale, the balances in the Equipment account and Accumulated Depreciation account were $62,200 and $17,516, respectively. Based on this information, what were the proceeds received when this equipment was sold? Cash proceeds from sale $ 41894 On January 1.2016. Sheridan Corporation acquired equipment costing $86,400. It was estimated at that time that the equipment would have a useful life of eight years and no residual value. The company uses the straight- line method of depreciation for its equipment, and its year end is December 31. Your answer is correct. Calculate the equipment's accumulated depreciation and carrying amount at the beginning of 2018. Equipment's accumulated depreciation $ 21600 Carrying amount 64800 Attempts: 1 of 3 used Your answer is correct. What is the amount of the gain or loss that would arise when a quarter of the equipment was sold on January 1, 2018, for cash proceeds of $17,990? Gain from sale of equipment $ 1790 Attempts: 1 of 3 used