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please do both Waterway Corporation traded a used truck (cost $27,600, accumulated depreciation $24,840 ) for a small computer with a fair value o $4,554.
please do both
Waterway Corporation traded a used truck (cost $27,600, accumulated depreciation $24,840 ) for a small computer with a fair value o $4,554. Waterway also paid $690 in the transaction. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Tamarisk Company purchased a new plant asset on April 1, 2025, at a cost of $760,000. It was estimated to have a service life of 20 years and a salvage value of $62,800. Tamarisk' accounting period is the calendar year. (a) Your answer is correct. Compute the depreciation for this asset for 2025 and 2026 using the sum-of-the-years'-digits method. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 45,892.) Depreciation for 2025$ Depreciation for 2026$ Your answer is incorrect. Compute the depreciation for this asset for 2025 and 2026 using the double-declining-balance method. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 45,892.) Depreciation for 2025$ Depreciation for 2026$Step by Step Solution
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