Carla Vista Company Owns Equipment That Cost 130 000 When Purchased On January 1 2018 It Has Been Depreciated Using T 1 (46.36 KiB) Viewed 30 times
Carla Vista Company Owns Equipment That Cost 130 000 When Purchased On January 1 2018 It Has Been Depreciated Using T 2 (52.23 KiB) Viewed 30 times
Carla Vista Company Owns Equipment That Cost 130 000 When Purchased On January 1 2018 It Has Been Depreciated Using T 3 (36.93 KiB) Viewed 30 times
Carla Vista Company owns equipment that cost $130,000 when purchased on January 1, 2018. It has been depreciated using the straight-line method based on estimated salvage value of $16,000 and an estimated useful life of 5 years. Prepare Carla Vista Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) (a) (b) (c) (d) No. Account Titles and Explanation (a) Sold for $63,000 on January 1, 2021. Sold for $63,000 on May 1, 2021. Sold for $35,500 on January 1, 2021. Sold for $35,500 on October 1, 2021. (b) (To record depreciation expense) Debit Credit
(b) U (d) (To record depreciation expense) (To record disposal of equipment at a gain) (To record depreciation expense) INDO CO BINNE
(d) (To record depreciation expense) (To record disposal of equipment at a loss)
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