Problem 9-5A a-e On January 1, 2016, Blossom Corporation acquired equipment costing $79,680. It was estimated at that time that the equipment would have a useful life of eight years and no residual value. The company uses the straight-line method of depreciation for its equipment, and its year end is December 31. Calculate the equipment's accumulated depreciation and carrying amount at the beginning of 2018 Equipment's accumulated depreciation Carrying amount HOW SOLUTION What is the amount of the gain or loss that would arise when a quarter of the equipment was sold on January 1, 2018, for cash proceeds of $18,140? from sale of equipment SHOW SOLUTION What is the depreciation expense for January 1, 2018, to October 31, 2018? Depreciation expense