Disposal of Plant Assets

Star Company purchased a computer on January 2, 2012, at a cost of $2,500. The computer is expected to have a useful life of five years and a residual value of $250. Assume that the computer is disposed of on July 1, 2015 and that straight-line depreciation is used.

Disposal of Plant Assets Star Company purchased a computer on January 2, 2012, at a cost or $2,500. The computer is expected to have a useful life of five years and a residual value of s250. Assume that the computer is disposed of on uly 1, 2015 and that straight-line depreciation is used. Hide Record the depreciation cxpensc for half a year. 2015 July 1 Depreciation Expense-c Screen Shot 2017-07-25 at 10.27.56 PM Open with Preview Accumulated Depreciat Hide 2. The computer is sold for $400. 2015 July 1 Hide Record the disposal under cach of the following ossumptions. For a compound transaction, if an amount box docs not require an entry, leave it blank 1. The computer is discarded. 1800 on Sale of Cor 2500 475 Loss on Disposal of 2500 Hide 3. The computer is sold for $1,100 2015 July 1 Hide Hints) 2. The computer is sold for $400 on Sale of Co 2015 July 1800 Loss on Sale of Cor 2500