Question
Only Using Straight line method of depreciation Each sale entry is a four line entry. E10.10 (LO 3) Pryce Company owns equipment that
Only " Using Straight line method of depreciation " Each sale entry is a four line entry.
E10.10 (LO 3) Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2017. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.
a. Sold for $31,000 on January 1, 2020.
b. Sold for $31,000 on May 1, 2020.
c. Sold for $11,000 on January 1, 2020.
d. Sold for $11,000 on October 1, 2020.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
