Question
depreciation method: straight line purchase date 4/1/2010 cost: $ 5,000.00 estimated life: 5 sales price $ 1,000.00 date sold 12/31/2012 a) What is the depreciation
depreciation method: straight line
purchase date 4/1/2010
cost: $ 5,000.00
estimated life: 5
sales price $ 1,000.00
date sold 12/31/2012
a) What is the depreciation expense for year 1 using the straightline method?
b) What is the net book value of the equipment at the end of year 3?
c) Calculate gain/loss on sale of equipment.
d) What is the account balance in accumulated depreciation at the end of yr 4?
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
3rd Canadian Edition
017689859X, 9780176898595
