Answer Happy

Chapter 9 Exercises Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $107,970 has an estimated useful life of 12 years, has an estimated residual value of $8,850, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? 99,710 X Feedback b. Assume that the equipment was sold on April 1 of the fifth year for $67,865. 1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required. > Depreciation Expense-Equipment 1,697 X Accumulated Depreciation Equipment ✓ 1,697 x Feedback 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations Cash 1,697 x Accumulated Depreciation Equipment ✓ Check My Work O more Check My Work uses remaining. Previous Next Assignment Score: 69 42% All work saved Email Instructor Save and Evit Submit Assignment for Grading

Chapter 9 Exercises Feedback b. Assume that the equipment was sold on April 1 of the fifth year for $67,865. 1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required. 1,697 X Depreciation Expense-Equipment Accumulated Depreciation Equipment 1,697 x Feedback 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations Cash 1,697 X Accumulated Depreciation Equipment ✓ Feedback Feedback Check My Work Omore Check My Work uses remaining. Previous Next Assignment Score: 69 42% All work saved Email Instructor Save and Evit Submit Assignment for Grading