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Please explain where you get the numbers as well as show the work on how you got to them. Also please check if what I
Please explain where you get the numbers as well as show the work on how you got to them. Also please check if what I have filled out already is correct.
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Here are selected 2017 transactions of Bramble Corporation. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,900 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1,2015.The computer cost $35,800 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. Sold a delivery truck for $9,450 cash. The truck cost $23,800 when it was purchased on January 1,2014, and was depreciated based on a 5-year useful life with a $3,300 salvage value. Prepare a tabular summary to record all transactions described on the above dates. Update depreciation on assets disposed of, where applicable. Bramble Corporation uses straight-line depreciation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities + Stockholders' Equity Retained Earnings Cash Equipment Accum. Depr. - Equip. Common Stock Revenue Expense 61900$ -61900 30 4475 4475 4300 17900 13600 31 9450Step by Step Solution
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