On January 2, 2017. Repeat Clothing Consignments purchased showroom fixtures for $19.000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2018, Repeat sold the fixtures for $8,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through September 30, 2018 Date Accounts and Explanation Debit Credit Sep 30 Before recording the sale of the fixtures, let's calculate any gain or loss on the sale of the fixtures. Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Now, record the sale of the fixtures on September 30, 2018. Choose from any list or enter any number in the input fields and then continue to the next question Save for Later On January 2, 2017, Repeat Clothing Consignments purchased showroom foctures for $19.000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2018, Repeat sold the fixtures for $8,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Before recording the sale of the foxtures, let's calculate any gain or loss on the sale of the fixtures Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Now, record the sale of the fixtures on September 30, 2018. Date Accounts and Explanation Sep. 30 Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later On January 2, 2017, Repeat Clothing Consignments purchased showroom fixtures for $19.000 cas has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On Sept both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through September 30, 2018. Date Accounts and Explanation Debit Sep. 30 Accumulated Depreciation-Fixtures Book value Cash Depreciation Expense-Fixtures Before recoi Fixtures Gain on Disposal Market valu Loss on Disposal Less: Book Maintenance Expenses Cost fixtures. Less: Accumulated Depreciation Gain or (Loss) Now, record the sale of the fixtures on September 30, 2018. Choose from any list or enter any number in the input fields and then continue to the next que Save for Later On January 2, 2017, Repeat Clothing Consignments purchased showroom fixtures for $19,00 has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through September 30, 2018 Date Accounts and Explanation Sep. 30 Before recoi Discarded fixtures with a book value. Market valu Discarded fully depreciated fixtures. Less: Book Sold fixtures for cash. Cost To record depreciation on fixtures. Less: Accumulated Depreciation Gain or (Loss) Now, record the sale of the fixtures on September 30, 2018. Choose from any list or enter any number in the input fields and then continue to the ne) Save for Later
