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Equipment acquired on January 6 at a cost of C. Assuming that the equipment was sold on January 3 of Year 4 for $379,920, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of $459,240 has an estimated useful life of 19 vear a. What was the annual amount of depreciation for account titles. and an estimated residual value of $62,805. the Years 1-3 using the straight-line method of depreciation? PAGE 1 a. What was the annual amount of Year 1 depreciation for the Years 1-3 using the JOURNAL depreciation ACCOUNTING FOUATION straight-line method of depreciation? DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY expense b. What was the book value of the 1 Year 2 equipment on January 1 of Year 4? depreciation c. Assuming that the equipment was sold expense on January 3 of Year 4 for $379,920, Year 3 journalize the entry to record the sale. depreciation Refer to the Chart of Accounts for exact еxpense wording of account titles. d. Assuming that the equipment had been d. Assuming that the equipment had been sold on January 3 of Year 4 for $410,485 instead of $379,920, journalize the entry to record the sale. Refer to the Chart of b. What was the book value of the equipment on sold on January 3 of Year 4 for Accounts for exact wording of account titles. January 1 of Year 4? $ $410,485 instead of $379,920, journalize the entry to record the sale. PAGE 1

Equipment acquired on January 6 at a cost of C. Assuming that the equipment was sold on January 3 of Year 4 for $379,920, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of $459,240 has an estimated useful life of 19 vear a. What was the annual amount of depreciation for account titles. and an estimated residual value of $62,805. the Years 1-3 using the straight-line method of depreciation? PAGE 1 a. What was the annual amount of Year 1 depreciation for the Years 1-3 using the JOURNAL depreciation ACCOUNTING FOUATION straight-line method of depreciation? DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY expense b. What was the book value of the 1 Year 2 equipment on January 1 of Year 4? depreciation c. Assuming that the equipment was sold expense on January 3 of Year 4 for $379,920, Year 3 journalize the entry to record the sale. depreciation Refer to the Chart of Accounts for exact еxpense wording of account titles. d. Assuming that the equipment had been d. Assuming that the equipment had been sold on January 3 of Year 4 for $410,485 instead of $379,920, journalize the entry to record the sale. Refer to the Chart of b. What was the book value of the equipment on sold on January 3 of Year 4 for Accounts for exact wording of account titles. January 1 of Year 4? $ $410,485 instead of $379,920, journalize the entry to record the sale. PAGE 1

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 7PA: Using the following information: A. make the December 31 adjusting journal entry for depreciation B....
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Disposal of fixed asset Instructions Chart of Accounts First Questions Journal Instructions First Questions X Journal Equipment acquired on January 6 at a cost of C. Assuming that the equipment was sold on January 3 of Year 4 for $379,920, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of $459,240 has an estimated useful life of 19 year a. What was the annual amount of depreciation for account titles. and an estimated residual value of $62,805. the Years 1-3 using the straight-line method of depreciation? PAGE 1 a. What was the annual amount of Year 1 $ JOURNAL depreciation for the Years 1-3 using the depreciation ACCOUNTING FOUATION. straight-line method of depreciation? DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY expense b. What was the book value of the 1 Year 2 $ equipment on January 1 of Year 4? 2 depreciation c. Assuming that the equipment was sold expense 3 on January 3 of Year 4 for $379,920, Year 3 2$ 4 journalize the entry to record the sale. depreciation Refer to the Chart of Accounts for exact expense wording of account titles. d. Assuming that the equipment had been d. Assuming that the equipment had been sold on January 3 of Year 4 for $410,485 instead of $379,920, journalize the entry to record the sale. Refer to the Chart of b. What was the book value of the equipment on sold on January 3 of Year 4 for Accounts for exact wording of account titles. January 1 of Year 4? $ $410,485 instead of $379,920, journalize the entry to record the sale. PAGE 1 Refer to the Chart of Accounts for exact JOURNAL wording of account titles. ACCOUNTING FOLUATION. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3
Transcribed Image Text:Disposal of fixed asset Instructions Chart of Accounts First Questions Journal Instructions First Questions X Journal Equipment acquired on January 6 at a cost of C. Assuming that the equipment was sold on January 3 of Year 4 for $379,920, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of $459,240 has an estimated useful life of 19 year a. What was the annual amount of depreciation for account titles. and an estimated residual value of $62,805. the Years 1-3 using the straight-line method of depreciation? PAGE 1 a. What was the annual amount of Year 1 $ JOURNAL depreciation for the Years 1-3 using the depreciation ACCOUNTING FOUATION. straight-line method of depreciation? DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY expense b. What was the book value of the 1 Year 2 $ equipment on January 1 of Year 4? 2 depreciation c. Assuming that the equipment was sold expense 3 on January 3 of Year 4 for $379,920, Year 3 2$ 4 journalize the entry to record the sale. depreciation Refer to the Chart of Accounts for exact expense wording of account titles. d. Assuming that the equipment had been d. Assuming that the equipment had been sold on January 3 of Year 4 for $410,485 instead of $379,920, journalize the entry to record the sale. Refer to the Chart of b. What was the book value of the equipment on sold on January 3 of Year 4 for Accounts for exact wording of account titles. January 1 of Year 4? $ $410,485 instead of $379,920, journalize the entry to record the sale. PAGE 1 Refer to the Chart of Accounts for exact JOURNAL wording of account titles. ACCOUNTING FOLUATION. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3
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