This question's due date has already passed. You may post a tutorial, but there's no guarantee that the original asker will purchase the tutorial. But other people might!

Question

# \$1.00Accounting

• Closed, but you can still post tutorials
• Due on Apr. 26, 2012
• Asked on Apr. 23, 2012 at 04:55:39AM

Rating :No Rating
Tutorials Posted: 0

Q:

1. Equipment was acquired at the beginning of the year at a cost of \$75,000. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of \$7,500.

1. a)  What was the depreciation for the first year?

2. b)  Assuming the equipment was sold at the end of the second year for \$59,000,

determine the gain or loss on sale of the equipment.

3. c)  Journalize the entry to record the sale.

Available Tutorials to this Question

\$1.00
just get it,good luck:):):)
• This tutorial was purchased 1 time and rated No Rating by students like you.
• Posted on Apr. 23, 2012 at 05:11:06AM
Posted by :

Rating (22):D
Tutorials Posted: 58,
Earned: \$392.20

A:
Preview: ... l the assi ...

The full tutorial is about 7 words long plus attachments.

Attachments:
solved accurately.docx (12K) (Preview)

\$1.00
• This tutorial was purchased 1 time and rated No Rating by students like you.
• Posted on Apr. 23, 2012 at 05:18:21AM
Posted by :

Rating (105):B+