Sale of Asset Equipment acquired on January 9, 20Y3, at a cost of $607,000, has an estimated useful life of 19 years, an estimated residual value of $109,260, and is depreciated by the straight-line method. a. What was the book value of the equipment at the end of the fifth year, December 31, 20Y7? Round your interim calculations and final answer to the nearest dollar. X Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value. Round annual depreciation to the nearest dollar and use this amount in your follow- on calculations. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. b1. Assuming that the equipment was sold on July 1, 20Y8, for $212,450, illustrate the effects on the accounts and financial statement of depreciation for the six months until the sale date. Financial Statement Effects July 1. No effect No effect - 0 Assets Balance Sheet Accumulated depreciation equipment Statement of Cash Flows -130,984 X 0 Liabilities No effect 0 + Depreciation expense Stockholders' Equil + Retained earnings Income Statement

Equipment acquired on January 9,203, at a cost of $607,000, has an estumated useful life of 19 years, an estrmated residual value of $109,260, and is deprecated by the straighe-ine method. a. What was the book valuo of the equipment at the end of the fifth year, December 31,20 rz? Round your interim calculations and final answer to the nearest dollas: x Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value. Round annual depreciation to the nearest dollar and use this amount in your followon calculotions. If no account or activity is affected, select "No effect" fron the dropdown and leave the corresponding number entry box blank. b1. Astuming that the equipment was sold on fuly 1,20re, for 5212,450 , ilustrate the effectr on the accounts and finandat statement of deprecation for the six months until the sale date