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Sale of equipment Equipment was acquired at the beginning of the year at a cost of $ 2 8 , 7 5 0 . The
Sale of equipment
Equipment was acquired at the beginning of the year at a cost of $ The equipment was depreciated using the doubledecliningbalance method based on an estimated useful life of ten years and an estimated residual value of $
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a What was the depreciation for the first year?
fill in the blank of $
b Assuming the equipment was sold at the end of year for $ determine the gain or loss on the sale of the equipment.
fill in the blank of $
Question Content Area
c Journalize the entry on December to record the sale. If an amount box does not require an entry, leave it blank.
DateAccountDebitCredit
December
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