Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

31-Dec-2020 31-Dec-2019 $ Equipment 165,000 100,000 Accumulated Depreciation $82,000 $60,000 A equipment with a cost of $14,000 was disposed during the year with accumulated

31-Dec-2020 31-Dec-2019 $ Equipment 165,000 100,000 Accumulated Depreciation $82,000 $60,000 A equipment with a cost of $14,000 was disposed during the year with accumulated depreciation of $7000 and gain on disposal of $3,000. No other disposal or retirement of Equipment during the year ended 31 December 2020. The total depreiciation expense for year ended 31 December 2020 is $[A] Additions of Equipment (Purchase of Equipment) for the year ended 31 December 2020 is $[B] Sales Proceeds on disposal of equipment is $[C] ** your answers should include numerals only, no dollar sign ("$"), no comma ",", eg five thousand dollars should be input as 5000, otherwise, no marks will be awarded

Step by Step Solution

3.51 Rating (164 Votes )

There are 3 Steps involved in it

Step: 1

a The total Depreciation expense for the year ende... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions