On January 2, 2016, Trendz Lighting purchased showroom fixtures for $20,000 cash, expecting the fixtures to remain

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On January 2, 2016, Trendz Lighting purchased showroom fixtures for $20,000 cash, expecting the fixtures to remain in service for four years. Trendz Lighting has depreciated the fixtures on a straight-line basis, with zero residual value. On March 31, 2017, Trendz Lighting sold the fixtures for $12,000 cash. Record both the depreciation expense on the fixtures for 2017 and the sale of the fixtures on March 31, 2017. Round intermediate calculations to the nearest cent and final answers to the nearest whole dollar?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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