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Disposal of fixed asset: Equipment acquired on January 6 at a cost of $262,200 has an estimated useful life of 10 years and an estimated
Disposal of fixed asset: Equipment acquired on January 6 at a cost of $262,200 has an estimated useful life of 10 years and an estimated residual value of $34,200. a. What was the annual amount of deprecation for Years-1-3 using the straight-line method of depreciation? b. What was the book-value of the equipment on January 1 of Year 4 ? c. Assuming that the equipment was sold on January 3 of Year 4 for s184,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank d. Asuming that the equigment kad been sold en lamuary 3 of rear 4 for $197,700 inatead of $184,160, journslue the entry to record the saie. If an amount box doel not require an entry, leaye is blank: b. What was the book value of the equipment on January 1 of Year 4 ? C. Assuming that the equipment was sold on January 3 of Year 4 for $184,100, journalize the entry to record the sale. If an amount box does not require an entry, leay it. blanki. d. Assuming that the equipment had been sold on January 3 of Year 4 for 5197,700 instead of 5184,100, journalize the entry to record the sale. If an amount box does not reeviee an entry, leave it blank
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