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Is this right?I need help with the rest too. Disposal of fixed asset Equipment acquired on January 6 at a cost of $276,000 has an
Is this right?I need help with the rest too.
Disposal of fixed asset Equipment acquired on January 6 at a cost of $276,000 has an estimated useful life of 10 years and an estimated residual value of $36,000. a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1 of Year 4 ? $ c. Assuming that the equipment was sold on January 3 of Year 4 for $193,800, journalize the entry to record the sale. If an amount box does not require an entry, leave it blankStep by Step Solution
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