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Exercise 1 1 - 1 2 ( Algo ) Depreciation methods; disposal; partial periods [ LO 1 1 - 2 ] Howarth Manufacturing Company purchased
Exercise Algo Depreciation methods; disposal; partial periods LO
Howarth Manufacturing Company purchased equipment on June at a cost of $ The residual value of the equipment was estimated to be $ at the end of a fiveyear life. The equipment was sold on March for $ Howarth uses the straightline depreciation method for all of its plant and equipment. Partialyear depreciation is calculated based on the number of months the asset is in service.
Required:
Prepare the journal entry to record the sale.
Assuming that Howarth had instead used the doubledecliningbalance method, prepare the journal entry to record the sale.
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Assuming that Howarth had instead used the doubledecliningbalance method, prepare the journal entry to record the sale. Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round intermediate calculation. Round your final answers to the nearest whole dollar amount.
Journal entry worksheet
Assuming that Howarth had instead used the doubledecliningbalance method, prepare the journal entry to record the sale.
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