On January 1, 2020, Techno Company sold a machine for RO15,000 cash. The Machine originally cost RO 56,000. As of January 1, 2020, it had accumulated depreciation of RO 35,000. Prepare the journal entry to record the sale of the Machine

Oklahoma Company purchased a machine on January 1, 2020. The machine had a cost of $520,000 with a $20,000 residual value. The estimated useful life of the machine was eight years. On January 1, 2022, due to technological innovations, the estimated useful life was reduced by two years from the original life and the residual value was reduced by 50%. The company uses straight-line depreciation.   Required: Prepare the journal entry to record the annual depreciation on December 31, 2022. Show your calculations before you post the journal entry.

Blossom Enterprises purchased equipment on January 1, 2020, at a cost of €405,000. Blossom uses the straight-line depreciation method, a 5-year estimated useful life, and no residual value. At the end of 2020, independent appraisers determined that the assets have a fair value of €330,000. . Prepare the journal entry to record 2020 depreciation using the straight-line method.  Account Titles and Explanation Debit Credit Depreciation Expense     Accumulated Depreciation-Equipment (To record depreciation expense)   please help me fill the table

Mill Creek Golf Club, Inc. purchased a computer for $2,900, debiting Computer Equipment. During 2022 and 2023, Mill Creek Golf Club, Inc. recorded total depreciation of $2,300 on the computer. On January 1, 2024, Mill Creek Golf Club, Inc. traded in the computer for a new one, paying $2,700 cash. The fair market value of the new computer is $4,500. Journalize Mill Creek Golf Club, Inc.'s exchange of computers. Assume the exchange had commercial substance. Let's begin by calculating the gain or loss on the exchange of computer equipment on January 1. Market value of assets received Less: Book value of asset exchanged Cash paid Gain or (Loss) Journalize Mill Creek Golf Club, Inc.'s exchange of computers. (Record a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Jan. 1 Accounts and Explanation Debit Credit