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I need General journal for this assignment Review Problems for Last Exam Depreciation Methods machine COST $42,000 EST life &years, $2000 Salvage (purchased 1/1/1 )
I need General journal for this assignment
Review Problems for Last Exam Depreciation Methods machine COST $42,000 EST life &years, $2000 Salvage (purchased 1/1/1 ) * Prepare Depreciation Schedule for 1) Straight- Line (s/c ) 2) Double- Declining Balance ( DDB ) (2) Disposal of Depreciable Assets Using the machine giver on problem # 1 above -. and assuming we only use straight-line depreciation provide journal entries for the follow assumptions. a ) Junk it on 1/1 16 6 ) Sell it on 1/1/ 7 1 for $ 15000 2 ) for $ 6000 2 ) Trade it in on 1/1/8 - LIST New machine $50, 009. 1) Trade in Allowance ( TIA ) $ 950 0. 2 ) Trade on Allowance (TIA ) $ 3,000Step by Step Solution
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