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Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $400,200, has an estimated useful life of 10 years and an estimated
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $400,200, has an estimated useful life of 10 years and an estimated residual value of $52,200. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Depreciation Expense Year Year 1 Year 2 Year 3 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 $281,000, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. d. Assuming that the equipment had been sold on January 3 of Year 4 for $301,700 instead of $281,000, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank
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