Question
Hi! Could you help me figure out what I did wrong? I am not quite sure how to calculate the amount for Depreciation Expense in
Hi! Could you help me figure out what I did wrong? I am not quite sure how to calculate the amount for Depreciation Expense in parts B and D.
Pryce Company owns equipment that cost $72,200when purchased on January 1, 2014. It has been depreciated using the straight-line method based on estimated salvage value of $4,500and an estimated useful life of5years.
Prepare Pryce Company?s journal entries to record the sale of the equipment in these four independent situations.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g.125. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
| (a) | Sold for $35,620 on January 1, 2017. |
| (b) | Sold for $35,620 on May 1, 2017. |
| (c) | Sold for $10,500 on January 1, 2017. |
| (d) | Sold for $10,500 on October 1, 2017. |
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Statistics The Art And Science Of Learning From Data
Authors: Alan Agresti, Christine A. Franklin
3rd Edition
9780321849281, 321755944, 321849280, 978-0321755940
