Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 07 May 2018 My Price 4.00

book value of the equipment

Equipment acquired on January 8, 2013, at a cost of $136,150, has an estimated useful life of 15 years, has an estimated residual value of $8,050, and is depreciated by the straight-line method.

 

  Required:
A. What was the book value of the equipment at December 31, 2016, the end of the year?
B. Assuming that the equipment was sold on July 1, 2017, for $91,040, journalize the entries to record (1) depreciation for the six months until the sale date, and (2) the sale of the equipment. Refer to the Chart of Accounts for exact wording of account titles.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 07 May 2018 04:05 PM My Price 4.00

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