On January 1, 2016, Minco Corporation purchased, for $100,000, equipment having a useful life of eight years and an esti
Posted: Sat Feb 19, 2022 2:32 pm
On January 1, 2016, Minco Corporation purchased, for $100,000,
equipment having a useful life
of eight years and an estimated salvage value of $0. Minco has
recorded yearly depreciation of
the equipment on the straight-line method. On January 2, 2021, the
equipment was sold for
$30,000. Journalize the equipment sale at January 2, 2021.
equipment having a useful life
of eight years and an estimated salvage value of $0. Minco has
recorded yearly depreciation of
the equipment on the straight-line method. On January 2, 2021, the
equipment was sold for
$30,000. Journalize the equipment sale at January 2, 2021.