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can I get some help on this please Kamloops Corporation purchased equipment on July 18 of Year 6 for $500,000. The estimated useful life is
can I get some help on this please
Kamloops Corporation purchased equipment on July 18 of Year 6 for $500,000. The estimated useful life is 8 years, and the residual value is $50,000. On March 24 of Year 12, they sold the equipment for $150,000. Depreciation is rounded to the nearest month. Required Provide all journal entries necessary for the sale of the equipment under the following conditions. You must also show your clearly labelled calculations. A. Kamioops Corporation uses straight lne depreciation. (to marks) B. Kamloops Corporation uses double declining balance depreciation. (10 marks) Step by Step Solution
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