Equipment acquired on January 8 at a cost of $147,550 has an estimated useful life of 16 years, has an estimated residual value of $7,550, and is depreciated by the straight-line method. Question Content Area a. What was the book value of the equipment at December 31 the end of the fourth year? $fill in the blank ca8b2603ffe3f98_1 Question Content Area b. Assume that the equipment was sold on April 1 of the fifth year for $103,847. 1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required. - Select - - Select -

Apex Communication purchased equipment on January 1, 2024, for $49,004 Suppose Apex Communication sold the equipment for $36,000 on December 31, 2025. Accumulated Depreciation as of December 31, 2025, was $15,078. Journalize the sale of the equipment, assuming straight-line depreciation was used First, calculate any gain or loss on the disposal of the equipment Market value of assets received Less Book value of asset disposed of Cost Less Accumulated Depreciation Gain or (Loss) 49004 36000

Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $151,850 has an estimated useful life of 17 years, has an estimated residual value of $7,350, and is depreciated by the straight-line method. a.  What was the book value of the equipment at December 31 the end of the fourth year?$fill in the blank f27e84fc8020072_1     Feedback   Book value is the initial cost of the fixed asset minus the accumulated depreciation. b.  Assume that the equipment was sold on April 1 of the fifth year for $110,335. 1.  Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required.     Depreciation Expense-Equipment Depreciation Expense-Equipment     Accumulated Depreciation-Equipment Accumulated Depreciation-Equipment     Feedback   The depreciation account of the fixed asset being…

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takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Revision of Depreciation Equipment with a cost of $461,100 has an estimated residual value of $41,900, has an estimated useful life of 32 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. b. Determine the book value at the end of the 17 full years of use. C. Assuming that at the start of the year 18 the remaining life is estimated to be 23 years and the residual value is estimated to be $33,700, determine the depreciation expense for each of the remaining 23 years. Previc All work saved. Email Instructor Sul

Equipment purchased on January 3, 2008, for$80,000 was depreciated using the straight-line method based upon a 5-year life and $7,500 residual value. The equipment was sold on December 31, 2010, for $40,000. What is the gain on the sale of the equipment? Prepare the journal entry.   A. $3,500 ​C. $36,500 B. $14,500 ​D. $43,500

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Disposal of Asset During  the  year  to  30  June  20X7,  Eugene  Ltd  sold  a  non-current  asset  for  $36,000.  It  had been acquired three years ago at a cost of $180,000. At the date of disposal of the asset, the accumulated depreciation was $138,000. What was  the  profit or loss on disposal, and what journal entries are needed to record the disposal?

The following information is available on a depreciable asset: Purchase date January 1, Year 1 Purchase price $96,000 Salvage value $10,000 Useful life 10 years Depreciation method straight-line The asset's book value is $78,800 on January 1, Year 3. On that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during Year 3 would be: Multiple Choice $7,880.00 $9,225.00 $8,600.00 $7,380.00 $9,850.00