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help please chap 9 Equipment acquired on January 8 at a cost of $113,950 has an estimated useful life of 12 years, has an estimated
help please chap 9
Equipment acquired on January 8 at a cost of $113,950 has an estimated useful life of 12 years, has an estimated of $7,150, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fifth year? b. Assuming that the equipment was sold on April 1 of the sixth year for $60,755, joumalize the enthios to record (1) depreciation for the 3 months until the sale date and (2) the sale of the equipment. b. Assuming that the equipment was sold on April 1 of the sixth year for $60,755, journalize the entries to record the following: General Joumal instructions 1. Depreciation for the 3 months until the sale date. Question not attempted. 2. The sale of the equipment. Question not attempted. a. What was the book value of the equipment at December 31 the end of the fifth year Step by Step Solution
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