Quick! Please solve these two homework problems I'm stuck on - specifically the red parts that are wrong. thanks!
Exercise 9-10 Your answer is partially correct. Try again. Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2016. It has been depreciated using the straight-line method based on an estimated salvage value of $5,000 and an estimated useful life of 5 years. Prepare Pryce Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to a decimal places, e.g.125. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sold for $31,000 on January 1, 2019. (b) Sold for $31,000 on May 1, 2019. (c) Sold for $11,000 on January 1, 2019. (d) Sold for $11,000 on October 1, 2019. No. Account Titles and Explanation Debit Credit (a) Cash 31000 Accumulated Depreciation-Equipment 36000 Gain on Disposal of Plant Assets 65000 [Emil IEUU _: l:l' (C) Iccumulated _epreciation- Equipment 0000 (To record depreciation) x I Gain on Disposal of Plant Assets IE x I [I V l (To record sale of equipment) I:cumulated _epreciation- Equipment I oss on _isposal of Plant Assets 1000 36000 - (d) ll (To record depreciation) J Cash 11000 J Accumulated Depreciation -Equipment 45000 J Loss on Disposal of Plant Assels 9000 65000 Um HEN IUUU Eii i (To record sale of equipment) Exercise 9-6 Rottino Company purchased a new machine on October 1, 2019, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. El Your answer is incorrect. Try again. Compute the depreciation expense under straight-line method for 2019. (Round answer to 0 decimal places, e.g. 2,125.) 2019 E Depreciation expense 27600 $ UNK T0 TEXT VIDEO: snuun EXERCISE VIDEO: SINIUR EXERCISE El Your answer is incorrect. Try again. Compute the depreciation expense under units-ofactivity for 2019, assuming machine usage was 1,700 hours. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round nal answer to 2 decimal places, e. 9. 2,125.25.) 2019 Depreciation expense $ [2| Your answer is incorrect. Try again. Compute the depreciation expense under declining-balance using double the straightline rate for 2019 and 2020. (Round answers to 0 decimal places, e.g. 2,125.) 2019 2020 III II! Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIHIIM EXERCISE
