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hi i really need help finishing this thank you Exercise 8-11A (Static) Events related to the acquisition, use, and disposal of a tangible plant asset:
hi i really need help finishing this thank you Exercise 8-11A (Static) Events related to the acquisition, use, and disposal of a tangible plant asset: straight-line depreciation LO 8-2, 8-5 City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $36,000. In adidition, City paid sales tax and title fees of $1,200 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $4,000. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. b \& c. Assurne that the taxi was sold on January 1, Year 3, for $22,000. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. Complete this question by entering your answers in the tabs below. Using the straight-fine method, compute the depreciation expense for Year 1 and Year 2. Assume that the taxi was sold on January 1, Year 3, for $22,000. Prepare the general fournal entries to record the Year 1 depreciation and sale of the taxi in Year 3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record depreciation expense. Notel Enter debits beforn credits
hi i really need help finishing this thank you
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