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What am I doing wrong with Fixed Assets? This is my second chance at this Chapter 9 Exercises Disposal of Fixed Asset Equipment acquired on
What am I doing wrong with Fixed Assets? This is my second chance at this
Chapter 9 Exercises Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $342,200 has an estimated useful life of 8 years and an estimated residual value of $44,600. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 4? > C. Assuming that the equipment was sold on January 3 of Year 4 for $219,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Jan. 3 d. Assuming that the equipment had been sold on January 3 of Year 4 for $235,200 instead of $219,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 69 42% All work saved Email Instructor Save and Evit Submit Assignment for Grading Chapter 9 Exercises Year 1 Year 2 II Year 3 b. What was the book value of the equipment on January 1 of Year 4? C. Assuming that the equipment was sold on January 3 of Year 4 for $219,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Jan. 3 d. Assuming that the equipment had been sold on January 3 of Year 4 for $235,200 instead of $219,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Jan. 3 Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 69 42% All work saved Email Instructor Save and Evit Submit Assignment for GradingStep by Step Solution
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