Im confused how they got 5600... for the less accumulated

also, the double declining balance depreciation is 1,600 because they did 10,000 cost - 4000 acc dep x 2(1/5) x (8/12) = 1,600. where did 4000 come from?

ACC 120 Prin of Financial Accounting FON02 (Fall 2018) Usman Khan | 10/28/18 11:44 PM Homework: Chapter 9 Homework Due by 10/28 Save Score: 5.89 of 8 pts 9 of 10 (10 complete) Hw Score: 86.56%, 70.12 of 81 pts E9-22 (similar to) Question Help On January 2, 2017, Family Clothing Consignments purchased showroom fixtures for $10,000 cash, expecting the fixtures to remain in service for five years. Family has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On August 31, 2018, Family sold the fixtures for $5,500 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debits first, then credits. Select the S explanation on the last line of the journal entry table.) Begin by recording the depreciation expense as of August 31, 2018 Date Accounts and Explanation Debit Credit Aug. 31 1,600 xtures 1,600 To record depreciation on fixtures so Before recording the sale of the fixtures, et's calculate any gain or loss on the sale of the fixtures Market value of assets received Less: Book value of asset disposed of tud S 5,500 Cost S 10,000 (5,600)400 Less: Acoumulated Depreciation Gain or (Loss) This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Similar