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Will upvote if correct! Phatoah Productions Corp. purchased equipment on March 1,2024, for $49600. The company estimated the equipment would have a useful life of
Will upvote if correct!
Phatoah Productions Corp. purchased equipment on March 1,2024, for $49600. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $10,000. During 2024 , the equipment produced 4,300 units. On November 30,2025 , the equipment was sold for $18,000 and had produced 5,500 units that year. (a) Record all the necessary journal entries for the years ended December 31.2024 and 2025, using the following depreciation methods: (List all debit entries before credit entries. Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the arnounts, Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent, es, 43\% and round depreciation per unit in the inits-of-production depreciation method to 2 decimal places, es. 2.25 and final answers to 0 decimal places, es. 5,275. (1) Straight-line (2) Double-diminishing-balance (3) Units-of-production Attempts: unlimited Step by Step Solution
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