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can you please help me to answer letter c. ipost the question from a to c but i need only the answer for letter c
can you please help me to answer letter c. ipost the question from a to c but i need only the answer for letter c .
Wildhorse uses the diminishing-balance method at one times the straight-line depreciation rate. Wildhorse Limited purchased delivery equipment on March 1, 2019, for $138,750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,470. The equipment was disposed of on November 30,2021 . Wildhorse uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. (a) Record the acquisition of equipment on March 1, 2019. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter 0 for the amounts.) Record depreciation at August 31, 2019,2020, and 2021. (List all debit entries before credit entries. Credit account titles are outomatically indented when the amount is entered. Do not indent manually if no entry is required, select "No Entry" for the account tities and enter O for the amounts. Round answers to O decimal places, eg. 5.275) Record the disposal of the equipment on November 30,2021, under each of the following independent assumptions: (List all debit entries before credit entries. Credit account titles are autornatically indented when the amount is entered. Do not indent manually Record joumbl entries in the order presented in the problem. Round answers to 0 decimal ploces, eg. 5,275 . if no entry is required, seiect "No Entry" for the occount titles and enter O for the amounts) 1. It was sold for $65,200 2. It was sold for $79,900 3. It was retired for no proceeds Step by Step Solution
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