Question
Rayya Co. purchases and installs a machine on January 1, 2015, at a total cost of $105,000. Straight-line depreciation is taken each year for four
Rayya Co. purchases and installs a machine on January 1, 2015, at a total cost of $105,000. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is disposed of on July 1, 2019, during its fifth year of service. |
Prepare entries to record the partial years depreciation on July 1, 2019.
Record the depreciation expense as of July 1, 2019.
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