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Only parts c) and d) please. I figured out a) and b) Disposal of Fixed Asset Equipment acquired on January 6 at a cost of
Only parts c) and d) please. I figured out a) and b)
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $276,000, has an estimated useful life of 8 years and an estimated residual value of $36,000. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 $ 34,500 x Year 2 $ 207,000 Year 3 $ 172,500 x b. What was the book value of the equipment on January 1 of Year 4? Feedback C. Assuming that the equipment was sold on January 3 of Year 4 for $176,700, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Feedback d. Assuming that the equipment had been sold on January 3 of Year 4 for $189,700 instead of $176,700, joumalize 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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