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Accounting, I need hand write calculations step by step please Louisville Farms, a breeder of racehorses, paid $432,000 cash for a prize-winning stallion on 1

Accounting, I need hand write calculations step by step please image text in transcribed
Louisville Farms, a breeder of racehorses, paid $432,000 cash for a prize-winning stallion on 1 January 2004. The stallion is depreciated on a straight-line basis, with depreciation for partial years rounded to the nearest month Estimated useful life was nine years, with no residual value. After owning the animal for six years and five months, Louisville Farms sold the stallion on 31 May 2010 for cash of $85,000. Depreciation had last been recorded on 31 December 2009. a Compute to the nearest full month depreciation for the fractional period from 1 January 2010 b Compute the book value of the stallion at 31 May 2010, the date of sale. e Compute the gain or loss on the sale of the stallion. S d In the space provided below, prepare the journal entry to record the sale of the stallion on 31 May 2010. (Use to 31 May of 2010. S (gain/loss) Breeding Stock as the title of the asset account. Assume that depreciation to date of sale already has been recorded.) 2010 General Journal 31 May Computations

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