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i need help solving this Disposal of Foxed Asset. Equipment acquired on January 6 at a cost of $144,900, has an estimated useful life of
i need help solving this
Disposal of Foxed Asset. Equipment acquired on January 6 at a cost of $144,900, has an estimated useful life of 7 years and an estimated residuat value of $18,900. a. What was the annual amount of depreciatian for the Years 1-3 using the straight-inn method of depreciation? b. What was the book value of the equipment on lanuary 1 of Year 4 ? c. Assuming that the equipment was sold on January 3 of Year 4 for $86,400, joumalze the entry to record the sole. If an amount box does not require an entry, leave blank d. Assuming that the equipment had been sold on January 3 of Year 4 for $92,700 instead of 506,400, journalize the entry to record the saie. If an amount box does not require an entry, leave it black. d. Assuming that the equipment had been sold on January 3 of Year 4 for $92,700 instead of $86,400, joumalize the entry to record the sale. If an amount box does not require an entry, leave it blank Step by Step Solution
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