Question 13 Calculate the amount of depreciation expense to report during the year ended December 31 for equipment that was purchased at a cost of $43,000 on October 1. The equipment has an estimated residual value of $3,000 and a useful life of 5 years. The company uses straight-line depreciation. $8,000 $2.150 $2,000 $8,600 Question 14 1 pts ABC Company sold an asset for $50,0OO Cash. The asset had been purchased six years earlier at a cost of $100,O0O. It had been depreciated over 10 years with no salvage value. Thus, Accumulated Depreciation was $60,00O. Which of the following is the correct journal entry to record the sale? Dr. Cash $50,0oO; Dr. Accumulated Depreciation $60,000: Credit Equipment $100,00o: Credit Gain on Disposal of $10,00o Dr Equipment $40,00O: Dr. Loss on Disposal $10,0OO: Cr. Cash $50,000 Dr. Cash $50,00o: Cr. Equipment $40.00O: Cr. Gain on Disposal $10,00o Dr. Equipment $100,00O; Cr. Cash $50,000; Cr. Accumulated Depreciation $40,00O: Credit Gain on Disposal $1o,00o Question 15 1 pts A copy machine costs $45,000 when new and has accumulated depreciation of $44,000. Suppose the company discards this machine and receives nothing. What is the result of the disposal transaction? Loss of $1,000 Gain of $1,000 No gain or loss Loss of $44,000