Question
The company bought new equipment and provided you with the data for the equipment Date of purchase 2-Jan-17 Cost of equipment $53,000 Salvage value $3,000
The company bought new equipment and provided you with the data for the equipment
Date of purchase 2-Jan-17
Cost of equipment $53,000
Salvage value $3,000
Useful life 5 yearsDepreciation method Straight line
1. Assume the company sold the equipment on Dec 31, 2020 and received $18,000 cash. Prepare the journal entry
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The Internal Audit Handbook The Business Approach To Driving Audit Value
Authors: Hans Beumer
1st Edition
3906861201, 978-3906861203
