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please explain why, I need detailed process pls. Sylvestor Computer Services purchased $12,000 of computer equipment on 9/1/2015. The equipment was used in operations and
please explain why, I need detailed process pls.
Sylvestor Computer Services purchased $12,000 of computer equipment on 9/1/2015. The equipment was used in operations and was depreciated using the straight line method. Sylvestor depreciates computer equipment over a 5 year estimated life with an 8% residual value. Sylvestor sold all $12,000 of computer equipment on June 30 th, 2017 for a combined selling price of $5,000. Assume Sylvestor reported net income of $72,070 for the twelve months ended 12/31/2017 which is before any entries related to the computer equipment mentioned income will Sylvestor report after considering all entries made in 2017 related to the $12,000 of computer equipment? $68,014 $69,486 $70,590 $70,222 $69,118Step by Step Solution
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