Equipment acquired on January 5 at a cost of $122,440, has an estimated useful life of 12 years, has an estimated residu

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Equipment Acquired On January 5 At A Cost Of 122 440 Has An Estimated Useful Life Of 12 Years Has An Estimated Residu 1 (40.64 KiB) Viewed 55 times

Equipment acquired on January 5 at a cost of $122,440, has an estimated useful life of 12 years, has an estimated residual value of $8,200, 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? b. Assuming that the equipment was sold on April 1 of the fifth year for 76,000 1. Journalize the entry to record depreciation for the three months until the sale date. Round your answers to the nerest whole dollar if required. 2. Sournalise the entry to record the sale of the equipment, ut an amount box dons not require an entry, leave it blank. Do not found intermediate calculations