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Thanks hoy very much for the help d. E9-20 (p.514) - Partial depreciation of the year and sale of an asset (8 points) On January
Thanks hoy very much for the help
d. E9-20 (p.514) - Partial depreciation of the year and sale of an asset (8 points) On January 2, 2011, Ditto Clothing Consignments purchased items for a display room for $ 16,000 in cash, with the expectation that said items remain in service for (5) five years. Ditto Co. has depreciated the goods on the basis of the doubly declining balance, with a residual value of zero. On August 31, 3012, Ditto sold the goods at $ 7,600 in cash. SDD Year 2011 = (16,000-07x 2/5 x 12/12 = 6,400 SDD Year 2012 (16,000 6,400) x 2/5 x 8/12 = 25601 Bonus Depreciation for the year Date Cost of asset Rate SDD Value Depreciation expense Accumulated depreciation Book value Year 2011 $ 16,000.40 Year 2012 16,000.20 Is required . Register (record) the depreciation for 2012. Debit Credit Date 2012 Aug 31 Depreciation expense (G +) Accumulated depreciation (DA +) Register (jornalizar) the sale of the goods as of August 31, 2012 Debit Credit Date 2012 Aug 31 Cash (A +) Accumulated depreciation (DA-) Profit from the sale of equipment (A +) Team A-) Sugerir un cambioStep by Step Solution
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