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please help ASAP Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $211,100 has an estimated useful life of 9 years
please help ASAP
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $211,100 has an estimated useful life of 9 years and an estimated residual value of $27,500. 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 Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 4? c. Assuming that the equipment was sold on January 3 of Year 4 for $142,400, journalize the entry to record the sale. If an amount box does not require an entry Jan. 31 d. Assuming that the equipment had been sold on January 3 of Year 4 for $152,900 instead of $142,400, journalize the entry to record the sale. If an amount box c Jan. 3 Step by Step Solution
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